In a concerning case of cyber financial fraud, a 66-year-old retired engineer from Noida Sector 31 was duped of ₹52 lakh by cybercriminals posing as executives of a British multinational bank, police officials said on Thursday. The fraud, which unfolded between March 12 and April 11, involved the use of WhatsApp groups, fake trading applications, and manipulated digital interfaces to mislead the victim into investing large sums under the pretense of securities trading.
According to the complaint filed at the Cybercrime Police Station, the victim was initially added to a WhatsApp group that displayed the logo of a reputed British bank and claimed to offer investment opportunities in international securities. The group included nearly 100 participants, adding a layer of legitimacy to the operation.
Lucrative Deals and Credit Score Trap Used to Lure and Control Victim
Station House Officer (SHO) Ranjeet Singh from the Cybercrime Branch said the suspects impersonated both bank executives and securities regulators, creating a believable environment of professional trading. After a few days in the initial WhatsApp group, the victim was migrated to other related groups and eventually sent a link to download a trading application.
The app, which also displayed the British bank’s branding, showed real-time trading data, profits, and credit scores. Cybercriminals lured the victim by offering discounted investment deals up to 30% and urged him to transfer money in multiple installments to secure lucrative returns.
To gain his trust, the victim was allowed to withdraw a small sum during the first few days. However, when he attempted another withdrawal, the fraudsters claimed his credit score had dropped and cited this as a reason for blocking access to funds. He was then asked to transfer an additional ₹5 lakh, which finally raised suspicions.
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Police Launch Probe Under BNS and IT Act; Efforts to Recover Funds Underway
Realizing he may have been scammed, the victim approached the Cybercrime Police Station and filed a complaint on April 16. The police registered a case on Wednesday under relevant sections of the Bharatiya Nyaya Sanhita (BNS) for cheating and personation, as well as provisions of the Information Technology Act.
Police say that more than ₹52 lakh was transferred in multiple payments across several accounts linked to the cybercriminals. The technical surveillance team is tracing IP logs, bank account activity, and app hosting servers to identify and locate the culprits. Officials have also sent requests to financial institutions to freeze the associated accounts and initiate recovery processes.
SHO Ranjeet Singh stated, “This case highlights how even educated and retired professionals can be deceived by digitally sophisticated fraudsters. We urge the public to verify investment platforms thoroughly and avoid clicking on links or downloading apps from unverified sources.”
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Public Advisory
This case adds to a rising trend of investment frauds orchestrated via WhatsApp, Telegram, and fake apps that mimic legitimate institutions. The police have advised citizens to be cautious of:
- Investment groups or trading opportunities offered via social media or messaging platforms
- Requests to download apps from unofficial sources
- Promises of high returns or guaranteed profits
- Claims requiring urgent fund transfers with discount incentives
Victims or suspicious individuals are encouraged to report such incidents via the National Cybercrime Reporting Portal (www.cybercrime.gov.in) or contact the nearest cybercrime police unit.