Share trading scam in Ghaziabad

A series of cyber fraud cases across India have resulted in significant financial losses for victims who were lured by fake investment schemes primarily advertised on social media platforms. In Ghaziabad, a couple lost over Rs 3 crore after being convinced to invest in a fabricated trading platform, where they made 22 transfers under the guise of stock trading. Similarly, a software engineer from Thane lost Rs 91.05 lakh in a share trading scam, which also involved social media manipulation. Other victims include a homemaker who lost Rs 44 lakh and a retired banker who was coerced into transferring Rs 39.6 lakh under false pretenses of legal investigations. These incidents highlight the growing threat of cyber fraud, emphasizing the need for vigilance and prompt reporting to authorities. Collaborative efforts in Telangana have seen successful recoveries of funds lost to fraud, with Rs 85.05 crore refunded to victims between March and July 2024.