Particularly in stock market trading

Navi Mumbai: With cybercrime on the rise, especially in the realm of stock market trading, citizens are being increasingly targeted by cyber thieves promising overnight wealth. The Navi Mumbai Cyber Police have reported a surge in fraudulent activities, where unsuspecting individuals, including professionals like doctors, lawyers, IT engineers, and banking sector employees, are falling prey to enticing investment schemes propagated through social media platforms like Instagram and Facebook.

These scams typically start with enticing advertisements promising significant returns on investments in stock market trading. Victims are initially shown small profits to gain their trust, only to be duped into investing larger sums. Many have lost substantial amounts, with cases emerging every two days.

Recent efforts by the Navi Mumbai Cyber Police led to the arrest of Kaushik Kumar Kalyan Bhai Italia at Surat airport. Italia, operating from Dubai, was apprehended for orchestrating fraudulent investment schemes targeting Indian citizens.

The modus operandi involves using indigent individuals' identities to open bank accounts and SIM cards, which are then used to siphon money offshore. Upon receiving complaints, the police freeze the implicated bank accounts, causing inconvenience to innocent account holders who must undergo legal processes to reclaim their funds.

Senior Police Inspector Gajanan Kadam from the Cyber Police Station urged citizens to remain vigilant, advising against responding to unknown links and refraining from unnecessary use of social media platforms like Instagram and Facebook, which are increasingly becoming platforms for fraudulent advertisements.

The statistics from Navi Mumbai Commissionerate reveal a concerning trend: from 2022 to June 26, 2024, a total of 780 cybercrime cases were filed, resulting in 185 arrests. These cases encompass a variety of fraud types, including digital frauds, stock market trading scams, cryptocurrency frauds, and more.

Citizens are encouraged to report cybercrimes promptly to the toll-free number 1930 or file complaints on cybercrime.gov.in to mitigate financial losses and ensure swift action against perpetrators.