How to identify fake investment schemes that promise quick riches
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Scammers are getting smarter
Fraudsters are using deepfake videos, fake trading apps, and SEBI look-alike advisors to trick investors. One such case involved a fake video of the Finance Minister promoting an app.
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Beware of unusually high returns
Be wary of guaranteed or unusually high returns. Scammers often show fake profits on apps, allow small withdrawals at first, and then block access once bigger sums are invested.
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Always verify credentials
Check if any advisor, broker, or platform is SEBI-registered before investing. Several scams have been run by unregistered operators posing as legitimate financial firms.
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Common tactics used by fraudsters
Fraudsters rely on unauthorized apps, fake social media groups, influencer impersonations, and high-pressure sales tactics to lure people into parting with their money.
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Stay alert and report quickly
Never trust investment offers received on WhatsApp or Telegram groups. Stick to verified platforms and report suspicious activity to cybercrime authorities without delay.