Bengaluru couple loses Rs 1.5 crore while investing online, recovers most money with help of Police

Online investments might seem like a quick way to earn some extra money at times but if you are not careful, you might end up losing your hard-earned money instead. There are ample fraudsters out there who are waiting to rob people of their hard-earned money and will leave no stone unturned in doing so. In a recent case, a couple from Bengaluru was duped of Rs 1.53 crore when they tried making some money online. However, they managed to recover most of the money with the help of Police.

Bengaluru couple loses Rs 1.53 crore

According a report by The Hindu, scammers approached the couple, residing in Banaswadi, with promises of high returns on online investments. Moreover, the frausters were operating from the UK and carried out the scam with the help of mule accounts that were rented from people in North India.

The victims were also shown a fake website, which claimed to provide them with real-time updates of their investments. Now, wherever there are websites involved, people tend to believe that a business is legitimate. However, it is to be noted that almost anyone can create a website and just because something appears to be legitimate, doesn't always mean that it is.

After a few months, when the couple wanted to withdraw a portion of their invested money, they saw that the website could not be accessed anymore. They realised that they had been scammed when they were blocked from the platform.

The couple went to the local police after this and a complaint was registered. Investigation began and the police was successful in tracking down the money trail with the help of banks. Thus, most of the couple's money was recovered.

How to stay safe while investing money online

If you are thinking to invest money online and don't really know where to begin, do a thorough research. If someone offers you a deal that appears too good to be true, it usually is. Hence, keep yourself up to date.

Also, be wary of fraudulent websites and report them to the authorities as soon as you come across them.

Always rely on trusted financial advisors only. Verify their credentials before believing them and making an investment on their suggestions.