Delhi woman loses Rs 24 lakh: Beware of fake investment ads on social media

Fake ads luring victims into making investments “endorsed” by famous entrepreneurs or financial firms are becoming a big problem on social media. A 36-year-old woman from Delhi recently fell victim to one such scam while browsing Facebook.

Here’s what happened

While on Facebook, she found a link advertising stock market investments through Upstox Securities, a well-known trading app in India. Curious, she clicked on the link and was added to a WhatsApp group named “V5-VIP Upstox Services Group.” According to an FIR she later filed, the group offered stock trading tips and eventually led her to a fraudulent application.