Among the various methods of operation used by cyber fraudsters, gullible victims are shown to be more likely to fall into traps disguised as investment, advertisement and customer care.
According to Cyberabad Police cybercrime data for 2022, around 650 incidents involved investment fraud, with an estimated loss of Rs 22.60 crore, followed by 672 cases of customer care fraud (Rs 5.6 crore) and 572 cases of advertisement fraud (Rs 4.90 crore).
Online stock trading is a common source of investment fraud. Fake websites that lure victims to a URL are sent, and bank credentials are obtained utilizing them. Recently, fraudsters have been caught duping people into engaging in cryptocurrency trading.
“Profits are shown initially for small investments and once a person puts higher investments, the fraudsters collect the money and log out,” said Ritiraj, DCP (Cybercrime Wing) Cyberabad Police.
Suspects in customer care fraud are found to be employing ‘boosters’ to make the bogus website appear when searching for the actual one.
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Unlike previous gangs from Jamtara and Bharatpur, cybercrime officials say that new teams from Bihar, West Bengal, Odisha, and Rajasthan are entering the market. “New gangs are now active from Nalanda, Katrisarai and Warsli in Bihar and similar gangs are operating from West Bengal, Rajasthan and Odisha. Professional gangs are also operating from Ghaziabad and Meerut.
Unfortunately, most of the time, these gangs are not connected to any crime there, hence the local police are not aware of their presence,” the DCP said.
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