Many working individuals often seek to invest a portion of their savings. However, knowing where and how to invest is not common knowledge. Nowadays, numerous apps claim to facilitate investment in the stock market.
While some of these apps have provided convenience to users, they have also brought about an increased risk. Presently, there are numerous online trading apps that deceive people under the guise of investment. Instances of fraud via WhatsApp are on the rise.
Individuals Falling Victim to WhatsApp Frauds
Numerous scams are associated with trading apps, where individuals are lured with enticing offers only to be defrauded later. This constitutes a significant scam, underscoring the importance of thorough investigation before committing funds to the stock market.
Cyber Dost’s Warning Regarding Fake Trading Apps
A cautionary post has been shared from the official account of Cyber Dost on X(Twitter). It reads, “Warning! Incidents of fake trading apps are proliferating. These fraudulent trading platforms are being promoted through WhatsApp groups, app stores, and meta advertisements. Invest only through SEBI registered stock brokers.”
Alert ! Scams of fake trading apps are on rise. Fake trading platforms are circulated over WhatsApp groups, App Stores and Meta Ads. Only invest in SEBI register Stock Brokers#SEBI #Trading #InvestmentScam #I4C #MHA #Cyberdost #Cybercrime #Cybersecurity #News #Awareness pic.twitter.com/5BRKYL0AIM
— Cyber Dost (@Cyberdost) February 4, 2024
It’s worth noting that WhatsApp often hosts tempting offers, promising to double one’s money. Fake messages advocating investment in the stock market frequently circulate. It’s imperative not to succumb to greed. These fraudulent messages may also offer free advice, all part of a scheme to involve individuals in forgery.
Precautions to Avoid WhatsApp Frauds
- Exercise caution with any WhatsApp message soliciting investment in the stock market.
- Conduct thorough research before investing in any stock.
- Refrain from sharing personal information and banking details with anyone.
- Understand that investing in the stock market carries significant risk, necessitating caution.
- If you’ve fallen victim to cybercrime, report it immediately on the cybercrime portal or call the helpline number 1930.
Also Read: Alert from CERT-In: Apple Devices Vulnerable to Hacking Anytime
