Woman loses Rs 1.32cr in online trading scam

Thiruvananthapuram: In yet another massive online fraud in the city, a 57-year-old woman residing in Sreekaryam lost Rs 1.32 crore in a well-orchestrated scheme offering her attractive returns in online trading. The victim received a WhatsApp message containing a link to an online trading platform. "I searched online for tips on trading, and a link was shared on my WhatsApp number hours later. Soon, a woman contacted me. She might have got my number through some tricks. She sent me a link and after I opened it, the woman guaranteed me easy and profitable trading through a platform developed by them," said the victim.
The fraudsters directed the woman to install a mobile application and asked her to give it a try. The woman invested a small amount initially, and she could see the progress of her investment on the platform. Later, she received a message about the profit earned, and the victim found that the invested amount had doubled.
Using the application, the woman withdrew the amount, and it was credited to her account. Later, she steadily increased the investments, and the platform reflected a substantial amount of profit. However, she was not able to transfer the money to her account. The fraudsters, however, compelled her to invest more money to avoid getting the previous investment blocked. Trusting their words, the woman continued the investments, and she was late to realize that it was a scam. City cyber police have begun a probe after registering a case.