Stories
Keralam Police Warn Against AI-Powered Fake Stock Investment Scams
- •Keralam police's cyber wing warns of social media scams using AI-generated videos of prominent stock market personalities to offer fake investment opportunities.
- •Fraudsters lure victims into WhatsApp/Telegram groups, then persuade them to download fake trading apps resembling legitimate firms.
- •Victims are initially allowed to withdraw small amounts to build trust, leading them to invest large sums, often attracted by discounted stock claims.
- •Scammers prevent victims from selling stocks and demand additional payments for processing charges, taxes, and fees when they try to withdraw funds.
- •Cyber police advise investing only through SEBI-registered entities and reporting scams to 1930 or the cybercrime portal within one hour.
Key Questions Answered
Fraudsters create AI-generated videos featuring prominent stock market personalities and company heads, circulating ads on platforms like Facebook and Instagram that promise huge returns. When users click these ads, they are added to WhatsApp or Telegram groups and persuaded to download fake trading apps.
Scammers use fake apps designed to resemble those of leading trading companies and initially allow victims to withdraw small amounts of money to gain their confidence. They also attract investors by claiming that stocks can be purchased at heavily discounted prices.
Victims and people who encounter fake advertisements are advised not to fall for false promises, avoid clicking links from unknown sources, and invest only through SEBI-registered entities. Incidents should be reported to the cyber police within one hour by calling 1930 or via the cybercrime portal.
