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Many people around the world invest their hard-earned money in order to increase its value. Investments can be carried out through various channels and online investments are quite popular as they are a convenient way to earn some extra cash. However, the world of online investments is full of <keyword id="19962622" type="General" weightage="20" keywordseo="scammers" source="keywords">scammers</keyword> as well who constantly look out for unsuspecting victims. In many cases, these scammers pose as financial advisors and lure people in their trap. They might even let the victim earn some money to prove their authenticity. Once the victim begins trusting them, the fraudsters show their true colourrs. Something similar happened with a man from Hyderabad, who fell victim to a <keyword id="19901142" type="General" weightage="20" keywordseo="cyber-fraud" source="keywords">cyber fraud</keyword>, losing Rs 8.17 lakh in a deceptive <keyword id="22852878" type="General" weightage="20" keywordseo="online-trading-scheme" source="keywords">online trading scheme</keyword>. The incident highlights the growing menace of <keyword id="19971937" type="General" weightage="20" keywordseo="cybercrime" source="keywords">cybercrime</keyword>, especially in the form of <keyword id="21250548" type="General" weightage="100" keywordseo="investment-scams" source="keywords">investment scams</keyword> that prey on unsuspecting individuals seeking quick profits. <h2>How the scam unfolded</h2>As per a report in New Indian Express, the 40-year-old man was initially contacted through random calls, including messages on Telegram, where he was lured into joining a group that claimed to offer profitable trading opportunities. The scammers added him to social media groups where they showcased the supposed success stories of others who had invested and made significant profits. Encouraged by these (false) success stories, the victim began by investing a small amount of money. To his surprise, he quickly received returns on his initial investment, which further convinced him of the scheme’s legitimacy. This early success was part of the scammers' strategy to build trust and encourage the victim to invest larger amounts. As the victim's confidence grew, he decided to invest more money, even going as far as taking bank loans and borrowing from friends to increase his trading capital. The scammers, posing as experienced traders, provided him with tips and advice, which seemed to be leading to profitable trades. However, as time passed, the victim started noticing irregularities. Despite his trades showing profits, the system would automatically close them, resulting in losses. When he questioned this, the scammers blamed the system’s automated processes and reassured him that his losses could be recovered by investing more. The situation reached a tipping point when the victim was unable to withdraw any funds from the trading app. Growing increasingly concerned, he approached a friend for a loan, explaining his predicament. It was this friend who first alerted him to the possibility that he was being scammed. Realizing the gravity of the situation, the victim immediately filed an online complaint with the cybercrime police. <keyword id="22852879" type="General" weightage="20" keywordseo="Hyderabad-Cyber-Crimes-police" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyderabad Cyber Crimes police" meta.hostid="261" meta.entityid="Hyderabad Cyber Crimes police">Hyderabad Cyber Crimes police</keyword> have registered a case and are currently investigating the matter. According to an official statement, the scammers had manipulated the trading app from the backend, deliberately causing the victim’s trades to close in losses even when they were in profit. The fraudsters continued to pressure the victim to transfer more funds, promising that he could recover his losses by making additional investments. <h2>How to protect yourself from such scams</h2>This incident serves as a stark reminder of the dangers of online investment schemes, particularly those that promise quick and easy profits. Cybercriminals often use sophisticated tactics to build trust with their victims, only to deceive them into losing substantial amounts of money. Thus, if you receive random calls or messages offering investment opportunities, approach them with caution. Scammers often use high-pressure tactics to convince you to invest quickly. If you do decide to invest, before going ahead, research the platform or group thoroughly. Check for reviews, and verify if the platform is registered with relevant financial authorities. In addition to this, be cautious about sharing your financial details or personal information with unknown parties, especially through unsecured communication channels. Also, if you are considering a new investment opportunity, seek advice from trusted friends, family members, or financial advisors. A second opinion can help you avoid making hasty decisions based on false promises.

Hyderabad man uses online trading app to try and earn some extra money, loses Rs 8 lakh

Actor <keyword id="19897962" type="General" weightage="100" keywordseo="Tamannaah-Bhatia" source="keywords">Tamannaah Bhatia</keyword>, who made waves with her recent cameo in Stree 2, is in the news again — but for a very unexpected reason this time. The actor was questioned by the <keyword id="19895344" type="General" weightage="20" keywordseo="Enforcement-Directorate" source="keywords" meta.keywordsubtype="org" meta.entityname="Enforcement Directorate" meta.hostid="261" meta.entityid="Enforcement Directorate">Enforcement Directorate</keyword> (ED) in Guwahati on Thursday in connection with a high-profile <keyword id="19899231" type="General" weightage="20" keywordseo="money-laundering" source="keywords">money laundering</keyword> case involving the ‘<keyword id="19984854" type="General" weightage="20" keywordseo="HPZ-Token" source="keywords">HPZ Token</keyword>’ mobile app, where several investors were allegedly duped on the pretext of <keyword id="23296351" type="General" weightage="20" keywordseo="cryptocurrency-mining" source="keywords">cryptocurrency mining</keyword>. The 34-year-old actor’s statement was recorded under the <keyword id="19912399" type="General" weightage="20" keywordseo="Prevention-of-Money-Laundering-Act" source="keywords">Prevention of Money Laundering Act</keyword> (PMLA), according to the Press Trust of India (PTI). Bhatia allegedly received payments for making a "<keyword id="23595308" type="General" weightage="20" keywordseo="celebrity-appearance" source="keywords">celebrity appearance</keyword>" at an event linked to the app, though there were no incriminating charges against her. Initially called for questioning earlier, she deferred the summons due to professional commitments but appeared on Thursday, as per PTI. The money laundering probe is tied to an FIR filed by the <keyword id="21156024" type="General" weightage="20" keywordseo="cyber-crimes-unit" source="keywords">cyber crimes unit</keyword> of Kohima Police, where several accused were booked under the Indian Penal Code and Information Technology Act. The app in question, 'HPZ Token,' was reportedly used to deceive investors by promising hefty returns on Bitcoin and other cryptocurrency mining. For an investment of ₹57,000, investors were promised returns of ₹4,000 per day for three months, but payments were halted after the first round, and fresh funds were solicited. The ED’s investigation uncovered 299 entities involved, including 76 Chinese-controlled entities, accused of creating "shell entities" to launder funds. The agency seized assets worth ₹455 crore following searches across the country. This case is part of a broader crackdown on fraudulent online schemes and <keyword id="20454123" type="General" weightage="20" keywordseo="illegal-betting" source="keywords">illegal betting</keyword> tied to cryptocurrency investments. (With inputs from sources)

Why is actor Tamannaah Bhatia being questioned by the ED for a money laundering case?

The <keyword id="19895346" type="General" weightage="100" keywordseo="Calcutta-High-Court" source="keywords" meta.keywordsubtype="org" meta.entityname="Calcutta High Court" meta.hostid="153" meta.entityid="Calcutta High Court">Calcutta High Court</keyword> on Thursday directed the <keyword id="19896633" type="General" weightage="20" keywordseo="CBI" source="keywords" meta.keywordsubtype="org" meta.entityname="CBI" meta.hostid="153" meta.entityid="CBI">CBI</keyword> to file a report by September 18 on detestable posts being made on social media regarding the <keyword id="22813393" type="General" weightage="20" keywordseo="rape-murder-victim" source="keywords">rape-murder victim</keyword> of R G Kar Medical College and Hospital. The body of the on-duty trainee doctor was found in the seminar room of the state-run hospital on August 9, triggering nationwide outrage. The CBI is investigating the case from the second week of August on an order of the high court. The petitioner prayed in the PIL that the CBI be directed to investigate the <keyword id="22008077" type="General" weightage="20" keywordseo="cyber-offences" source="keywords">cyber offences</keyword> in connection with the "unfortunate and brutal incident." The court asked the Additional Solicitor General Asok Kumar Chakrabarti, representing the central agency, whether it could find a way to block these types of posts. The division bench, presided by Chief Justice T S Sivagnanam, directed the joint director, CBI, Kolkata, to look into the grievance expressed by the petitioner with regard to the issue of such abominable <keyword id="20074678" type="General" weightage="20" keywordseo="social-media-posts" source="keywords">social media posts</keyword>. The bench, also comprising Justice Hiranmay Bhattacharyya, directed the CBI joint director or any other competent officer to file a report in this regard by September 18, when the PIL will come up for hearing again along with other petitions relating to the August 9 rape-murder of the doctor. After the order was dictated, Chakrabarti submitted before the court that the CBI does not have any separate wing to investigate such cyber crimes. Maintaining that the state police has a special unit to monitor such matters, he prayed that the <keyword id="20054502" type="General" weightage="20" keywordseo="West-Bengal-government" source="keywords" meta.keywordsubtype="org" meta.entityname="West Bengal government" meta.hostid="153" meta.entityid="West Bengal government">West Bengal government</keyword>'s cyber crime branch be also directed to file a separate report. The court said that it would consider the prayer on the next date of hearing.

Calcutta High Court seeks CBI report on nasty social media posts on RG Kar hospital rape-murder victim

Hyderabad, The <keyword id="50847" type="General" weightage="50" keywordseo="reserve-bank" source="Orion">Reserve Bank</keyword> has imposed a penalty of Rs 65 lakh on city-based <keyword id="17873662" type="General" weightage="20" keywordseo="ap-mahesh-co-operative" source="Orion">AP Mahesh Co-operative</keyword> <keyword id="283059" type="General" weightage="50" keywordseo="urban-bank" source="Orion">Urban Bank</keyword>, for non-compliance with provisions of <keyword id="17873661" type="General" weightage="50" keywordseo="cyber-security-framework-for-primary" source="Orion">Cyber Security Framework for Primary</keyword> (Urban) cooperative banks, <keyword id="129368" type="General" weightage="80" keywordseo="hyderabad-police" source="Orion">Hyderabad Police</keyword> said on Saturday. The central bank imposed the monetary penalty of Rs 65 lakh on AP Mahesh Co-operative Bank after the RBI's thorough cyber audit and the Hyderabad police investigation revealed the bank's significant "lapses" which led to the breach pertaining to the case wherein hackers breached the bank's systems through phishing mails and siphoned off Rs 12.48 crore in January 2022. "The RBI's thorough cyber audit and the police investigation revealed the bank's significant lapses which led to the breach. This is the first time ever that such an action has been taken against any Bank. All banks should adhere to cyber security practices to avoid such loss of public money and crucial data," a release from Hyderabad Police said. After AP Mahesh Co-operative Urban Bank reported the cyber-fraud incident, a case was registered and police said the criminal act was carried out through a series of phishing emails that were cleverly disguised and sent to bank employees. Upon opening these malicious emails, the employees' systems were compromised, providing the fraudsters full access to the bank's network. During the course of the investigation of the case several perpetrators, including Nigerian nationals, were arrested, police said. "This investigation also revealed bank's negligence which is evident from its failure to implement Cyber security measures, such as an Anti-phishing application, Intrusion prevention and detection systems, and Real-time threat defense and management systems, as mandated by the RBI," Hyderabad Police said. These Cyber Security components are indispensable for safeguarding cyber landscape, and were found to be conspicuously absent within the bank's cyber security infrastructure, the release said adding Hyderabad Police Commissioner CV Anand, corresponded with the RBI Governor, highlighting the critical lapses and requested for the suspension of the bank's license to operate. The current legal framework did not allow for the criminal negligence charges against the bank management, it said. "Nevertheless, the Hyderabad City Police pursued the matter which resulted in the RBI imposing a monetary penalty of Rs 65 lakh on AP Mahesh Co-operative Bank," the release added.

RBI imposes first-of-its-kind penalty on AP Mahesh co-op bank for cyber security violations

<keyword id="6358992" type="General" weightage="80" keywordseo="delhi-police" source="Orion">Delhi Police</keyword> have busted a pan-India <keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword> electric scooty scam and arrested 20 persons in connection. According to a senior police official, the <keyword id="15512585" type="General" weightage="20" keywordseo="outer-north" source="Orion">Outer-North</keyword> district's <keyword id="29409" type="General" weightage="50" keywordseo="cyber-crime" source="Orion">Cyber Crime</keyword> police team arrested the 20 accused during a combination of raids in Bengaluru, <keyword id="11900977" type="General" weightage="50" keywordseo="gurugram" source="Orion">Gurugram</keyword> and Patna. The official added that the accused had duped more than 1,000 victims to the tune of crores on the pretext of Ola electric scooty bookings as well as dealerships. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/global-smartphone-apps-chip-market-hits-all-time-high-of-8-9-bn/articleshow/95488133.cms">Global smartphone apps chip market hits all-time high of $8.9 bn</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/cloud-lending-platform-lentra-raises-60-million-will-use-funds-for-product-strengthening-and-global-expansion/articleshow/95499744.cms">Cloud lending platform Lentra raises $60 million, will use funds for product strengthening and global expansion</a>

Delhi Police bust pan-India Ola electric scooty scam, 20 arrested

<ul class="summary-list"><li>A Taiwanese crypto expert is accused of running a $100 million dark web drug market.</li><li>Feds say he operated the drug marketplace and blackmailed its users in its final days.</li></ul>A 23-year-old Taiwanese <a target="_blank" href="https://www.businessinsider.com/category/crypto">crypto</a> expert known for posting his qualifications on <a target="_blank" href="https://www.businessinsider.com/category/linkedin">LinkedIn</a>, working at an embassy, and lecturing police officers on cybercrime, may have been leading a questionable double life.Lin Rui-siang stands accused of running a $100 million <a target="_blank" href="https://www.businessinsider.com/pennsylvania-woman-fbi-dark-web-drug-laboratory-screenplay-research-doj-2023-10">dark web drug market</a>, attempting to blackmail its users, and instructing others on how to evade anti-money-laundering investigators.<a target="_blank" href="https://www.justice.gov/opa/pr/incognito-market-owner-arrested-operating-one-largest-illegal-narcotics-marketplaces">According to the Department of Justice</a>, Lin was arrested at John F. Kennedy Airport on Monday, and was charged with engaging in a continuing criminal conspiracy, narcotics conspiracy, conspiracy to sell adulterated and misbranded medication, and money laundering.Federal prosecutors say that he owned and operated Incognito Market, a dark web drug market selling heroin, cocaine, <a target="_blank" href="https://www.businessinsider.com/who-are-the-sacklers-wealth-philanthropy-oxycontin-photos-2019-1">oxycodone, and</a> other illicit substances.According to <a target="_blank" href="https://www.wired.com/story/lin-rui-siang-incognito-market/?utm_source=flipboard&amp;utm_content=topic%2Ffbi">WIRED</a>, which was the first to report on this, two months ago Lin led a course for St. Lucia Police titled "Cyber Crime and Cryptocurrency" about how to trace cryptocurrency.In April, the Government of St. Lucia <a target="_blank" href="https://www.google.com/search?q=Taiwan+sponsors+Cryptocurrency+and+Cybercrime+Training&amp;sca_esv=8d2d5f34a47bd10f&amp;rlz=1C5GCCM_en&amp;sxsrf=ADLYWIK3XwAoD-Ml0bxYwPPSUHuWqOf6dA:1716547508406&amp;source=lnms&amp;sa=X&amp;ved=2ahUKEwiR7-njjaaGAxU7AHkGHa8FDWIQ0pQJegQIBhAC&amp;biw=1405&amp;bih=1027&amp;dpr=1">published a press release</a> praising the four-day course, sponsored by the Taiwanese government, which it said 30 members of the police force had completed.The press release said Lin had "used his professional background and qualifications in the field" to help the Royal St. Lucia Police Force enhance its cybercrime-fighting abilities.While this likely referred to Lin's role as a diplomatic IT specialist at the Taiwanese embassy, the DoJ alleges that his <a target="_blank" href="https://www.businessinsider.com/category/cybersecurity">cybercrime expertise </a>had more nefarious origins.Since Incognito Market was launched in October 2020 and closed in March of this year, the marketplace sold more than $100 million worth of narcotics, the DoJ said. The DoJ said Lin used the pseudonyms "Pharoah" and "faro."According to the Justice Department, the website had its own "bank" to facilitate transactions, which allowed users to deposit <a target="_blank" href="https://www.businessinsider.com/personal-finance/what-is-cryptocurrency">cryptocurrency.</a>In <a target="_blank" href="https://ecf.nysd.uscourts.gov/cgi-bin/show_temp.pl?file=file0.530684903535199.pdf&amp;type=application/pdf">a criminal complaint</a> against Lin, an FBI investigator said customers and vendors used Monero, which uses privacy-enhancing technologies, and bitcoin.The <a target="_blank" href="https://ecf.nysd.uscourts.gov/cgi-bin/show_temp.pl?file=file0.184239433185336.pdf&amp;type=application/pdf">indictment</a> claims that Lin closed the drug marketplace in or around March, and that he refused to return money stored in the "bank" to vendors and customers.It also said that he threatened to leak users' transaction history unless they paid a fee.According to the indictment, a message on the website landing page read: "YES, THIS IS AN EXTORTION!!!"WIRED reported that Lin also operated a web service called Antinalysis, which charged users a fee to check whether their crypto could be linked to criminal transactions.The outlet said that "Pharoah" posted on a dark web market forum that its aim was to help users evade anti-money-laundering investigators.If convicted, Lin faces life in prison.The investigation was led by the FBI, Homeland Security Investigations, the Drug Enforcement Administration, the Food and Drug Administration's Office of Criminal Investigations, and the New York Police Department."This arrest underscores the dedicated, ongoing efforts of law enforcement to identify and dismantle illicit drug networks operating from every shadowy recess of the marketplace," NYPD Commissioner Edward A. Caban <a target="_blank" href="https://www.justice.gov/opa/pr/incognito-market-owner-arrested-operating-one-largest-illegal-narcotics-marketplaces">said</a> in a statement.

He taught cops how to fight crypto crime. Now he's accused of running a $100 million dark web drug market.

The Centre has blocked over 100 websites involved in facilitating organised illegal investments related to economic crimes and task-based part-time job frauds. According to an official statement, these websites were being operated by overseas actors and targets were mostly retired employees, women and unemployed youth looking for part time jobs. The Indian Cybercrime Coordination Centre (I4C), a wing of the Union Home Ministry, through its vertical National Cybercrime Threat Analytics Unit (NCTAU) had last week identified and recommended that these websites be blocked. Following this, the Ministry of Electronics and Information Technology (MeitY), invoking its power under the Information Technology Act, 2000, has blocked these websites, the statement said. These websites, which facilitated task-based organised illegal investment related to economic crimes, were learnt to be operated by overseas actors and were using digital advertisement, chat messengers and mule and rented accounts. The proceeds from the large scale economic frauds were seen to be laundered out of <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> using card network, crypto currency, overseas ATM withdrawals and international Fintech companies, the statement said. The I4C is an initiative of the Home Ministry to deal with cyber crimes in the country in a coordinated and comprehensive manner. <keyword id="6366773" type="General" weightage="80" keywordseo="citizens" source="Orion">Citizens</keyword> have been advised to promptly report phone numbers and social media handles used by such fraudsters to the National Cybercrime Reporting Portal (NCRP), the statement said. It said several complaints have been received through 1930 helpline and the NCRP and these offences were posing significant threat to the citizens and also involved data security concerns. These frauds, typically, involve a number of steps that include targeted digital advertisements launched on platforms like Google and Meta using key words like "Ghar baithe job" (Do jobs sitting at home), "Ghar baithe kamai kaise karen" (How to earn by sitting at home) etc. in multiple languages from overseas advertisers. Upon clicking the advertisement, an agent using WhatsApp or Telegram starts conversation with the potential victim, who convinces him or her to perform some tasks like video likes and subscribe, maps rating, etc. Upon completion of task, the victim is given some commission, initially and is asked to invest more to get more returns against given task. After gaining confidence, when victim deposits larger sum, deposits are frozen and thus the victim is duped. As precautionary measure, it is advised to exercise due diligence before investing in any such very high commission paying online schemes sponsored over internet. If an unknown person contacts anyone over WhatsApp or Telegram, refrain from performing financial transactions without verification, the statement said Verify the name of receiver mentioned in UPI App. If receiver is any random person, it may be a mule account and scheme may be fraudulent.Similarly, check the source from where initial commission is received, it said. Citizens should refrain from doing transactions with unknown accounts, as these could be involved in money laundering and even terror financing and lead to blocking of accounts by police and other legal action, the statement said. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-november-2023/slidelist/105775116.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-november-2023/slidelist/105775116.cms" target="_blank">WagonR to Creta – Top selling cars in India in November</a><a href="https://www.businessinsider.in/tech/mobile/news/oneplus-announced-new-flagship-smartphone-oneplus-12-with-up-to-24gb-ram/articleshow/105756057.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-announced-new-flagship-smartphone-oneplus-12-with-up-to-24gb-ram/articleshow/105756057.cms" target="_blank">OnePlus 12 debuts with bigger battery, up to 24GB RAM and more</a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-and-tvs-motor-leading-electric-two-wheeler-sales-in-nov-2023-month/articleshow/105719702.cms">Electric two-wheeler sales rise in Nov as Ola Electric scales a new high</a>

Over 100 websites blocked for facilitating organised illegal investments

Mumbai, An FIR registered here pertaining to alleged illegal gambling and cyber fraud worth Rs 15,000 crore linked to <keyword id="16404205" type="General" weightage="20" keywordseo="mahadev-betting-app" source="Orion">Mahadev betting app</keyword> has been transferred to the Mumbai crime branch for investigation, an official said on Thursday. Considering the scope of probe into the case, Mumbai Police Commissioner Vivek Phansalkar has transferred it to the crime branch, he said. The FIR was registered earlier this month at Matunga police station in Mumbai against 32 people, including the "promoter" of the app Saurabh Chandrakar, <keyword id="142062" type="General" weightage="20" keywordseo="ravi-uppal" source="Orion">Ravi Uppal</keyword>, Shubham Soni and others for allegedly committing the fraud since 2019, police earlier said. As per the FIR, the accused have defrauded people of nearly Rs 15,000 crore. The Enforcement Directorate (ED) recently claimed a forensic analysis and a statement made by a 'cash courier' led to "startling allegations" that Mahadev betting app promoters have paid about Rs 508 crore to the Chhattisgarh chief minister so far, and that "these are subject matter of investigation". Later, the BJP released a video of Shubham Soni saying he was the owner of the app and had the "proof" of paying Rs 508 crore so far to Chhattisgarh CM Bhupesh Baghel. The chief minister has rejected the claim. On November 5, the Centre issued blocking orders against 22 illegal betting platforms, including the Mahadev app, on ED's request. The action of banning the 22 illegal betting platforms follows investigations conducted by the ED against an illegal betting app syndicate and subsequent raids in connection with the Mahadev app in Chhattisgarh. The Chhattisgarh police have registered at least 75 FIRs in connection with the app and the ED has also conducted a probe into the case, the official said.

You Searched For "Hyderabad Cyber Crimes police" and got 8 results

Hyderabad man uses online trading app to try and earn some extra money, loses Rs 8 lakh

Divyanshi Sharma

Why is actor Tamannaah Bhatia being questioned by the ED for a money laundering case?

BI India Bureau

Calcutta High Court seeks CBI report on nasty social media posts on RG Kar hospital rape-murder victim

PTI

RBI imposes first-of-its-kind penalty on AP Mahesh co-op bank for cyber security violations

PTI

Delhi Police bust pan-India Ola electric scooty scam, 20 arrested

IANS

He taught cops how to fight crypto crime. Now he's accused of running a $100 million dark web drug market.

Joshua Zitser

Over 100 websites blocked for facilitating organised illegal investments

PTI

Mahadev betting app case registered in Mumbai transferred to crime branch

PTI

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