Tamil Nadu’s Cyber Crime Investigation Centre (SCCIC) has arrested three men from West Bengal in connection with an elaborate online stock trading scam that defrauded investors of INR 2.14 Crore. One of the accused was operating barely 500 meters from the Bangladesh border, highlighting the cross-border reach of these cyber networks.
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The Modus Operandi: WhatsApp Lures and Fake Apps
According to investigators, the fraud ring relied on carefully crafted WhatsApp groups, complete with fake testimonials and screenshots of supposed high returns. Victims were first enticed with small profits to build credibility. Once trust was secured, they were pushed to invest larger sums.
In one case, a victim clicked on a link circulated on Facebook, believing it to be a legitimate stock trading platform, and ended up investing INR 1.64 Crore. The accused, identified as Sahazada Hossain, was arrested on August 21. Police confirmed that he acted as a mule account holder and was linked to at least 29 cases across India, flagged on the National Cyber Crime Reporting Portal.
In another instance, a victim was tricked via WhatsApp into depositing INR 50 Lakh. This trail led investigators to Amit Saha (24) and Kamalesh Debnath (36), both residents of North 24 Parganas in West Bengal. All three suspects are now in custody.
Cross-State Crackdown and Warnings
The coordinated arrests underscore the growing ability of Tamil Nadu’s cybercrime wing to track fraudsters beyond state borders. DGP Shankar Jiwal and ADGP (Cyber Crime) Sandeep Mittal commended the SCCIC team for dismantling the racket and cautioned citizens against falling prey to “get-rich-quick” pitches on messaging platforms.
Officials reiterated that cybercriminals are increasingly using mule accounts—bank accounts operated by intermediaries—to mask the movement of illicit funds. The public has been urged to remain cautious and to report suspicious investment offers via the national cybercrime helpline (1930) or the portal www.cybercrime.gov.in.