[AltoLXI]

Originally Posted by Fuldagap

Like your money is blocked, the fraudsters' monies get blocked too. Then they bribe their way through police/banks.

Update:

My friend was made to get in touch with lawyer known to police. Looks like there are multiple cases everyday. My friend mentioned there were 14 victims on the same day.

Unfortunately for him, the money blocked was not his alone but the total money of all the victims less what was withdrawn by fraudsters, who were using the same account. The victims were asked to submit court order to get the money released. To add to the agony, only those who submit the order first are able to get the money from the frozen account. If the money is completely disbursed, the victims who submit order later will get nothing.

[rdhawan15]

I received a similar car from an agent claiming to be from Fedex.

Some quick red flags made me snap the call:

- The call was initiated with an IVR, but immediately transferred to an agent.
- The agent used good English.
- The callers did not know my name. If Fedex would call, they would use a consignment number and would also know the name.
- The call was from a 10 digit mobile number.
- Truecaller showed an individual's name

Normally, companies, make calls through 8 digit numbers or 3 digit special numbers. So, it was clear that someone was trying a fast one.

So, here is what I did:

- Disconnected the call
- Blocked the number on the SIM

These scams are prevalent these days. As a matter of precaution, you should not take calls coming from:

- Pakistan numbers starting with country code +92
- Unknown WhatsApp number calls
- Video calls on WhatsApp from any non-contact
- Unknown 10-digit mobile calls
- Numbers tagged SPAM or FRAUD on apps like the Truecaller

The best safety practice is to not take calls from unidentified numbers, especially in the first instance.

[Fuldagap]

Originally Posted by AltoLXI

Update:

My friend was made to get in touch with lawyer known to police. Looks like there are multiple cases everyday. My friend mentioned there were 14 victims on the same day.

Unfortunately for him, the money blocked was not his alone but the total money of all the victims less what was withdrawn by fraudsters, who were using the same account. The victims were asked to submit court order to get the money released. To add to the agony, only those who submit the order first are able to get the money from the frozen account. If the money is completely disbursed, the victims who submit order later will get nothing.

That is just wow! Police have gotten a new income stream it seems.

[Prash1407]

Hello BHP'ains,

I am writing here not because I have been scammed, but need to know if I have gotten into one.
I am active on stock markets both in Investment and Trading. I do keep getting calls and messages from unknown people who say that they provide Investment ideas and such. I always ignore their calls and delete those messages.
But, around a month ago, I was added into a Whatsapp group related to the same. I did'nt want to delete this, so I kept it as is. Wanted to observe the stock recommendations for a few days. Did the same, and the returns I could see were really good. All the stocks he recommended went up the next day and he also used to give sell signals. He said that he is part of an Investment Alliance which works with companies to jack up the prices. So, obviously the funds would run into Millons.
Then, he asked all of us to register into a new Demat account: driehaus-c through a weblink. All of us did by providing Aadhar as the proof and transferred a small amount to it.
Through this account, we could trade as an Institutional Investor i.e trade during Market pre-open hours in both India and US exchange. The trade opens at 09:00 IST and closes before 09:15 and the same in US.
Based on the amount I transferred, I have been making around 8-10% in every trade. This is too good to be true.
Now, we have all subscribed to AWFIS IPO as QIB, so investment is more and hoping for a good return there. He also says, If we have made good money by Mid of June, we will all be part of the Alliance and make the same money everyday.

Checks done:
1. The Demat account is listed in SEBI meaning it is an authorized account
2. I have transferred back some profit to my personal account and got it in 3-4 hrs
3. Have changed the password of the account to a complicated one (just to be safe)
4. Sent out an email to the official mail ID of Driehaus to check if the above link is authentic and if they own it

Questions:
1. As everyone knows, there are no free lunches in the world.. so why me?
2. When I need to transfer funds, I get a separate bank account almost every day. As soon as the funds are transferred, I put it to the Demat account. But, why multiple accounts?
3. One of the SBI account was opened 2 months ago and there have been constant fund flows (Credit and Debit)

I still have doubts in my mind resulting in this post. I have made my own checks, but the doubt does not go away. Requesting views from this group.

[ValarMorghulis]

Originally Posted by Prash1407

...
I am writing here not because I have been scammed, but need to know if I have gotten into one...

...I have been making around 8-10% in every trade. This is too good to be true.

...If we have made good money by Mid of June, we will all be part of the Alliance and make the same money everyday.

Something's rotten in the state of Denmark.

1. I think you'll be kept on the hook by 8-10% returns till mid June.
2. Then you'll be informed about a secret deal that will 10x your money.
3. If you've made INR N so far, this trade will require you to pump in minimum INR 2N to qualify for the deal.

Smells link a long con, looks like a long con, so probably it is a long con.
But that's just me. :|

[StarrySky]

Someone I know narrowly escaped losing money to this scam recently. In her case, she was told that her Aadhar card had been used somehow in an online scam running to crores and ED had issued an arrest warrant for her. Rest of the conversation, the phone interrogation were similar to what is mentioned in this thread. She would've lost money if her father hadn't intervened at the last minute. Even though he was also quite concerned by this allegation and interrogation, at some point he developed enough doubts about the whole thing which saved them.

[TheHelix0202]

Man, it’s 2024. Do people still fall for the PIN number stuff?

My recent YouTube binge fest sessions involve watching white dudes bust Indian scammers and that’s honestly fun. I recommend people to look it up if you want to know the different ways in which these lowlife scammers cheat people.

[adrift@life]

The scam is still in full swing, no matter the online exposure they are getting they are still fishing for gullible people.
I received a call from this no +918105621120.
first, it was a lady's voice informing me about a courier, I am not sure if this was an automated voice because I was distracted,
later a guy came online and asked me if I sent a parcel from Mumbai to Iran.
I told him the internet was awash with their scam tactics and he should try somebody else, he immediately got all cheery and said ok and wished me goodbye.
the audacity of these people. loathe to think what would happen to people who send care packages to their loved ones abroad, especially the elderly to their kids.
Sad state of cyber laws in India and even if stringent laws are enforced I believe we will be at the mercy of different kinds of looters.

[tharian]

Originally Posted by Prash1407

)

I still have doubts in my mind resulting in this post. I have made my own checks, but the doubt does not go away. Requesting views from this group.

This is a scam. I remember reading about it in the papers sometime back. Google it.
I were you, I would stop right now and get out of it.

[NPV]

Originally Posted by TheHelix0202

Man, it’s 2024. Do people still fall for the PIN number stuff?

Despite being educated, so many of us are greedy to make quick money. I can give you a first hand account as an example. Recently, one Sunday afternoon we were lazing around the home and suddenly WhatsApp on one of our phones gets super active with a new group that someone added us to. One person goes on to make a quick intro that they are a firm offering opportunities to make money easily while sitting in the comfort of our homes. Suddenly people in the group start asking for details and the person says they only need to post reviews of products and services, like certain posts on social media, etc. Next, the person says a Pre requisite is for everyone interested to have UPI linked to their bank accounts because that will be used by the firm to make commission payouts. Immediately some people started sharing their names, addresses and UPI IDs!

At this stage, it was about 5-6 minutes since we had got added, we quickly took some screenshots, my daughter even made a screen recording of the group and exited.

[ex-innova-guy]

Originally Posted by NPV

Recently, one Sunday afternoon we were lazing around the home and suddenly WhatsApp on one of our phones gets super active with a new group that someone added us to.

I had posted this earlier and posting again. Here is a tip for members getting added to these spam WhatsApp groups:

WhatsApp Settings -> Privacy -> Groups -> My Contacts (whichever option you prefer)

If a person is unable to add you to a group, he/she can send you a private message with the WhatsApp group link.

[Prash1407]

Originally Posted by tharian

This is a scam. I remember reading about it in the papers sometime back. Google it.
I were you, I would stop right now and get out of it.

Do you have some more details? I have googled with all Permutations and Combinations since many days, but not getting anything.
Everything looks legal and thus want to understand how this works? Pls let me know if you get more details or paper news
Thanks

[tharian]

Originally Posted by Prash1407

Do you have some more details? I have googled with all Permutations and Combinations since many days, but not getting anything.
Everything looks legal and thus want to understand how this works? Pls let me know if you get more details or paper news
Thanks

https://www.deccanherald.com/india/k...-fraud-2940782

Google 'stock broking scam deccan herald'.

Your experience has all symptoms and pointers of a scam although it may not be exactly the same modus operandi as other documented scams.

[m8002?]

Originally Posted by Prash1407

Hello BHP'ains,

I am writing here not because I have been scammed, but need to know if I have gotten into one.
I still have doubts in my mind resulting in this post. I have made my own checks, but the doubt does not go away. Requesting views from this group.

I cant imagine that you still have doubts about it. Think about this. If someone has the "magic formula" to make 10% return in every trade, he should already be a billionaire now even if he started with just Rs. 1.00 last year traded every day with 10% profit reinvested. And in the next 10 days, he should have 2B in his account.

Why would he ask you to invest in that scheme? Is he doing charity?

[thanixravindran]

Originally Posted by Prash1407

All the stocks he recommended went up the next day and he also used to give sell signals. He said that he is part of an Investment Alliance which works with companies to jack up the prices. So, obviously the funds would run into Millons.
Then, he asked all of us to register into a new Demat account: driehaus-c through a weblink. All of us did by providing Aadhar as the proof and transferred a small amount to it.
Through this account, we could trade as an Institutional Investor i.e trade during Market pre-open hours in both India and US exchange. The trade opens at 09:00 IST and closes before 09:15 and the same in US.

Questions:
2. When I need to transfer funds, I get a separate bank account almost every day. As soon as the funds are transferred, I put it to the Demat account. But, why multiple accounts?
3. One of the SBI account was opened 2 months ago and there have been constant fund flows (Credit and Debit)

I still have doubts in my mind resulting in this post. I have made my own checks, but the doubt does not go away. Requesting views from this group.

I guess you have have opened a trading and demat account in India. Who is the depository participant? What is driehaus-c role here?

In your questions, I don't understand 2 and 3. You are transferring funds from your banking Account to different accounts and funds available reflects in your trading account. What are those accounts - savings account in individual names or company accounts?

How do you know the credits and debits of SBI account and timeline if it belongs to the individual running the show?

This looks similar to front running scam done by individual brokers to me.