Chinese App Scams Looted Money
A 27-year-old was having no idea where his amount of ₹46 lakh had gone in just five months. At first, he thinks it is a good investment plan with no risks after he was told by a lady of such a high income generating plan. But now he is facing consequences and to police, they think he has been a victim of the latest financial scam by Chinese apps.
A message sent by a woman to lure him into financial fraud was “earn money now sitting at home. For more contact 9xxxxxxxx.” These fraudsters majorly use social media platforms to mine contact numbers to send such messages. He got excited about such a lucrative investment with 5 percent returns on such a low investment amount.
Scam Succeeds
The plan to scam him was succeeding, even though he sold his ancestral land to make an impressive investment. After not receiving any further instructions he became worried and noticed that something was wrong. His money was gone and was in intense distraught. Finally, he made contact with Delhi Police Special Cell cyber unit.
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As Per Police
“ The scam works by first enticing people with small payouts on investments, and once they’ve built up genuine trust in the ‘scheme’, the victims lose all their money in the blink of an eye.”
There were two methods to execute these scams by these fraudsters:
- By promising an ideal investment plan to get their deposits.
- By making users addicted to betting in small amounts.
According to the Police, a surge of these scams was first noticed during the first COVID-19 lockdown in March 2020. They specifically targeted Indians and looted lakhs of them every minute.
“Data accessed by ThePrint shows that more than seven such cases of elaborate scams, allegedly controlled by China-based entities, have been registered with the Special Cell’s Intelligence Fusion and Strategic Operations (IFSO) unit from 2020 to 2022. Five of these have been solved. A total of 40 people, including Chinese nationals, have been arrested so far in these cases.“
