Hyderabad police warn against surge in online trading and investment scams
HYDERABAD: The Cybercrime Unit of Hyderabad City Police has issued a public advisory cautioning citizens against a sharp increase in online trading and investment frauds. Scammers, officials said, are luring victims through social media, Telegram, and WhatsApp groups by promising high or guaranteed returns on cryptocurrency, forex, or stock trading.
Police said fraudsters create fake trading websites, dashboards, or apps to display manipulated profits and convince investors to deposit larger amounts. When victims attempt to withdraw funds, they are asked to pay “processing” or “compliance” fees under the guise of taxes, conversion charges, or withdrawal fees. Each payment leads to new demands.
Fraudsters use threats and prolonged deception
Officers said that when victims hesitate, scammers often resort to intimidation threatening legal action or claiming that funds will be frozen or lost. Over time, victims continue paying increasing sums, while no withdrawals are ever allowed. The fraud usually comes to light only after substantial losses.
Citizens are advised not to invest through unverified platforms or individuals claiming to be financial advisors. “Always verify with the Securities and Exchange Board of India (SEBI) before committing money,” police advised.
Guidelines to prevent cyber frauds
The advisory urged citizens to remain sceptical of “high or guaranteed returns,” avoid sharing bank or personal details, and refuse to pay any form of “processing” or “conversion” fee. They were also warned against trusting apps that display inflated profits or block withdrawals.
The Cybercrime Unit appealed to citizens to report such incidents immediately to the National Cybercrime Helpline (1930) or via cybercrime.gov.in. The public can also follow official updates on the Cybercrime Police’s Facebook, Instagram, and X handles (@cybercrimepshyd, @CyberCrimeshyd).
