Hyderabad: Cyber frauds in Telangana have taken new forms, shifting from classified ad scams to sophisticated investment and trading traps on social media platforms.
Police officials reported that cybercriminals are now using WhatsApp, Telegram, and X to lure victims with promises of high returns. They target IT employees, students, and homemakers by creating fake investment groups and circulating links under the names of popular trading platforms. Within eight months this year, 14,739 people across the state lost ₹606.40 crore.
Scammers form groups on messaging apps, fill them with fake profiles, and post fabricated chats. They share links that appear to belong to reputed trading portals. To build trust, fraudsters claim they earned high profits in a short time. Victims are then persuaded to invest amounts ranging from ₹5,000 to several lakhs.
Initially, victims see 15 per cent profits reflected in online accounts. Scammers even allow partial withdrawals to strengthen belief. Later, they insist on new deposits to keep the account active.
Cyber frauds in Telangana exploit fake tasks and virtual accounts
Fraudsters also design fake “tasks.” They tell victims that they promote products of multinational companies such as Amazon. People are asked to rate items or take screenshots for a promised ₹200 per click. Many homemakers and youth fall into this trap, attracted by easy earnings.
The criminals provide login IDs and passwords for fabricated trading sites. Victims register on these platforms, view fake bank statements, and see forged payment receipts. To continue, they are told to pay additional deposits in the name of service fees, commissions, or taxes.
Virtual accounts play a central role. These accounts display inflated balances, daily earnings, and commissions. Victims believe they have multiplied their investments tenfold. However, they can withdraw only a small fraction. Fraudsters then block withdrawals, citing wrong entries or penalties. They claim taxes must be cleared under RBI rules before the release of funds. After collecting large sums, scammers disable the accounts and block victims’ numbers.
One major case involved a youth from Chandanagar working at an IT company in Hitec City. On August 1, cybercriminals added him to a Telegram group named “VIP 263.” He invested ₹50,000 and saw a profit of 6.62 per cent. Convinced, he deposited more instructions. Over time, the fraudsters extracted ₹3.31 crore in the name of commissions and taxes. He later realised he had been cheated when withdrawals were blocked.
Cybersecurity Bureau Director Shikha Goel said investment fraud is now the most damaging category of cybercrime. Victims, lured by high returns, even borrow money to invest. Most affected are IT employees, businesspersons, and homemakers.
She stressed that only public awareness can curb these crimes. She advised that victims must immediately call helpline 1930 or file a complaint on the NCRP portal. Quick reporting can help freeze fraudulent accounts and prevent further losses.
