A 46-year-old Income Tax officer in Mumbai was defrauded of ₹91.67 lakh in a meticulously orchestrated cyber investment scam. The incident began when she came across videos of investment expert Rachana Ranade on social media and expressed interest in investing through a link provided in the post.
After sharing her contact details, she was added to a WhatsApp group where members appeared to be making significant profits. Encouraged by these claims, she contacted the group admin and was instructed to install a mobile application that mimicked the identity of a multinational bank. To build trust, the fraudsters even sent forged documents purportedly from the bank and SEBI.
She started by investing a small amount, which yielded a 15% return credited to her account further solidifying her belief in the scheme. Between May 15 and June 3, she transferred ₹57.67 lakh to various accounts. The app showed a ₹4 crore profit, but when she tried to withdraw, she was asked to pay ₹34 lakh as a service charge.
After complying, the scammers demanded an additional ₹40 lakh as a security deposit. It was only then that she realized she had been duped. A case has been registered under multiple sections of the Bharatiya Nyaya Sanhita and the Information Technology Act. The Mumbai Cyber Police are actively investigating.
This incident highlights how even well-informed individuals can fall prey to social engineering and false legitimacy in the digital world.
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