Hyderabad | Special Report: When trust meets technology in the wrong hands, the result can be devastating.
For a 58-year-old advocate from Hyderabad, a casual Facebook friendship turned into a financial nightmare — costing him nearly ₹97 lakh in an elaborate online investment scam.
It all began with a simple friend request. A woman identifying herself as Ritu Reddy from Chennai initiated contact on Facebook. After a few days of casual conversation, she introduced the advocate to an online trading platform — www.finalto-indus.com — claiming it offered “high returns in USD through international trading.” Encouraged by her confidence and reassured by small initial profits, the advocate began investing larger sums. He eventually raised ₹97.36 lakh, pledging gold and taking loans to fund the trades. Each time, he was instructed to transfer money into different bank accounts.
Soon, the website suspended trading, citing “unfavourable market conditions.” When the advocate tried to withdraw his funds, he was told to first deposit 20% — roughly ₹52 lakh — as an exchange fee, which the platform refused to deduct from his wallet balance.That was when the realization struck: the entire operation was fraudulent. The Rachakonda Cybercrime Police have registered a case and begun investigation. Officers suspect that the scam may be linked to an organized network operating across borders, targeting professionals through social media–based investment traps.
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The Expert View
According to a cybercrime expert,
“Modern online scams rely less on technology and more on psychology. Fraudsters first build emotional trust, then create the illusion of profit. By the time victims feel confident, they’re ready to invest everything they have.”
Experts say that educated professionals — lawyers, engineers, doctors — are now prime targets. Many victims fall prey not due to ignorance but because of overconfidence in their digital literacy.
The Expanding Digital Risk
India’s booming interest in online trading platforms has created fertile ground for sophisticated cyber fraud. Many fraudulent platforms mimic legitimate investment websites — complete with customer support and payment gateways — to appear authentic. Investigators note that scammers often use foreign names, international phone numbers, and fluent English communication to establish credibility before introducing the investment link.
Caution Is the Only Protection
Cybersecurity officials have urged citizens to verify any investment platform’s legitimacy through regulatory authorities such as SEBI or RBI before transferring funds.
They warn that social media friendships or WhatsApp investment advice can easily become the starting point of organized financial crime.
