Retired Noida Engineer Duped of ₹52 Lakh in WhatsApp-Based Cyber Investment Scam

In a shocking case of cyber financial fraud, a 66-year-old retired engineer from Noida's Sector 31 lost over ₹52 lakh to cybercriminals posing as executives of a reputed British multinational bank. The fraud, which unfolded between March 12 and April 11, was executed through WhatsApp groups, a fake trading app, and manipulated digital interfaces to trap the victim under the guise of international securities trading.

According to the complaint filed at the Cybercrime Police Station, the victim was first added to a WhatsApp group bearing the logo of a well-known British bank. The group, with nearly 100 members, claimed to offer high-return investments in international stock markets. The presence of multiple participants added a false sense of legitimacy.

Fraudsters Imitated Bank Officials and Regulators

Cybercrime Branch Station House Officer (SHO) Ranjeet Singh revealed that the scammers impersonated both bank employees and securities regulators to make the scheme appear professional. After gaining the victim’s trust, the fraudsters shifted him to other WhatsApp groups and sent him a link to download a fraudulent trading app.

The app, which carried the same branding as the British bank, displayed fake real-time trading data, profit margins, and even credit scores. The scammers offered attractive investment deals, including up to 30% discounts, and convinced the victim to transfer money in multiple installments.

Initial Profit Shown to Build Trust

To build credibility, the fraudsters allowed the victim to withdraw a small amount initially. However, when he later attempted to withdraw a larger sum, they falsely claimed that his credit score had dropped and blocked access to his funds. They then demanded an additional ₹5 lakh to "reactivate" his account—this triggered the victim’s suspicion.

Realizing he may have been duped, the victim reported the fraud to the Cybercrime Police on April 16. A case was officially registered on May 15 under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act.

Police Investigating Multiple Accounts and IP Logs

Police confirmed that more than ₹52 lakh was transferred through several transactions across various bank accounts linked to the cybercriminals. The technical surveillance team is currently analyzing IP addresses, app servers, and bank activity to trace the culprits. Requests have been sent to financial institutions to freeze the suspicious accounts and begin recovery procedures.

Cybercrime Officials Urge Public Caution

“This case shows how even educated and retired professionals can fall prey to digitally advanced fraudsters,” SHO Ranjeet Singh said. “We advise the public to verify any investment platforms thoroughly and avoid clicking on unverified links or downloading unknown apps.”

With cybercrime on the rise, officials emphasize that caution, awareness, and digital literacy are crucial to preventing financial fraud.