[GTO]

Guys (Android people), use TrueCaller and enable automatic blocking of top spammers. I haven't received a single such call, but see many spammy numbers that tried reaching me (TrueCaller didn't let them).

[Ulysses]

I came across a new scam. Got a call from ICICI Prudential (True Caller identified as ICICI insurance) from UP. The lady on call told me that I have an old policy, that is going to lapse, because of no premium payment. But if I pay the latest premium, they will reactivate the policy and then I can surrender the same. The surrender value, as they explained, is more than double to the premium to be paid (around 10K), so basically double profit. Because I keep a track of all of my policies (and bank account statements, so that I can find out if I made any transaction even 5 years back), I could sense that it was a scam. So I asked for the payment link, which is a UPI link, sent by SMS. I told then the link is not working and they need to send the UPI ID or the mobile number (basically, I wanted to know who is behind this). They sent the UPI ID, and on checking in BHIM app, it was found to be connected to some Smile Foundation account (SMILE foundation is a known scammer, infamous for scamming people to donate online for children treatment in hospital) in SBI (I guess SBI is now the go-to destination for opening scam bank accounts). I have reported this online to Cyber Crime department, but did not receive any acknowledgement, so cannot say if they will ever look into it. As for the scammer, I blocked the number after I got the UPI ID.

[ashkamath]

Originally Posted by Prash1407

Let me answer some of the questions.

Sir, never ever provide any personal information however miniscule it is, on a public forum. Data is gold now. So, please never disclose your personal information.

@zenmaster: You have correctly read my mind. Your insight is really helpful

Absolutely correct. If I can put it simple and straight, Please get out of that WhatsApp group, change PWD wherever it's applicable (disclosed). PLEASE STAY AWAY. Never get into these type of inducement.


As a stoçk trader myself, my thinking is, if you want to trade or invest there are multiple ways.
1. One is you read books on the subject, see YouTube videos, etc start small and grow.
2. You could identify a mentor through friend/ colleague or even internet, attend the course, gain some knowledge and experience and start your trading journey
3. You could identify a trader/ investor/ (institutional or individual) and entrust your money to them. In this case, you should physically verify their background/ history/ performance and visit them and they should have demonstrated a profitable history over a long period of time.

Now, if you notice the above suggestions, it's evident that "YOU" are initiating an action, based on your research and physical verification and go through the process. That is how these things should be. The initiative should be coming from YOUR END.

Instead, if the offer is COMING TO YOU from some stranger through WhatsApp or Telegram (they use only these 2 platforms as it's difficult to trace and easy to disappear), then just RUN AWAY FROM THESE FRAUDSTERS AS QUICKLY AS POSSIBLE. They are just fishing in the sea and you are easy small fish.

Please keep the above distinction in your mind. If someone, a total stranger calls and approaches you, it's a BIG NO. You have to be the one to initiate or take the first step in these trading matters, if it has to be genuine and worthwhile to you.

I have spent many years reading a vast number of trade and psychology related books, attended an online mentorship course for 5 years paying substantial annual subscription and even after all my efforts, I have endured a huge loss ( when I say huge, I mean a pretty large amount). What I intend to say here is that 'Trading looks simple, but it's not easy'. It's not the knowledge, the books, the mentors make you profitable in trading, but a very different set of mindset/ thinking which is contrary to our normal human nature. So when these fraudsters offer you unbelievable returns, you know they are lying and trying to defraud you

Originally Posted by Ulysses

Got a call from ICICI Prudential (True Caller identified as ICICI insurance) from UP. The lady on call told me that I have an old policy, that is going to lapse, because of no premium payment. But if I pay the latest premium, they will reactivate the policy and then I can surrender the same. The surrender value, as they explained, is more than double to the premium to be paid (around 10K), so basically double profit. .

I had got a similar call from the so called ICICI pru office and here is the link to the detailed post by in that regard in a different thread.

https://www.team-bhp.com/forum/shift...ml#post5763846 (My narrow escape from a cyber fraudster)

[pathik@2020]

I was following this thread and came across this news article in TOI today covering a fraud of this very nature:
https://timesofindia.indiatimes.com/.../110458093.cms
It sounds very similar to the situation OP has narrated.

[subbaramu]

Originally Posted by GTO

Guys (Android people), use TrueCaller and enable automatic blocking of top spammers. I haven't received a single such call, but see many spammy numbers that tried reaching me (TrueCaller didn't let them).

TrueCaller is the mother of all spammers. You get a notification that somebody has viewed your profile and you get a call within minutes of that. May be even a marketing call/spam.

I uninstalled TrueCaller and the spam/marketing calls have reduced by more than 95%.

[HIGHWAY_PATROL]

Originally Posted by m8002?

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?

I am not doubting your good intention to expose the fraudsters. But I couldn't understand the math behind Rs.1 turning to 2B( two billions??) in ten days with 10% profit every day! Or am I missing something here?

[m8002?]

Originally Posted by HIGHWAY_PATROL

I am not doubting your good intention to expose the fraudsters. But I couldn't understand the math behind Rs.1 turning to 2B( two billions??) in ten days with 10% profit every day! Or am I missing something here?

I said Rs.1 turning to Rs. 1B over 1 year. Assuming there was 1 trade each for 200 days in the year with 10% profit. Once you reach 1B, continue the same for the next 10 trades ( assuming 1 trade a day) and your net asset is now more than 2B. Actually at 10% returns, your investment will double every 7 trades.

[Aviator_guy]

FedEx scam, trading scam, re-activate old insurance policy scam, work from home jobs scam etc. etc.; Internet, social media,newspapers are full of news of such scams and modus operandi behind those but still people fall for cheap tricks ! Why are we so gullible? Is it greed, fear or simply ignorance that everyday there is news of such scams (that too happening with well to do, educated folks)..Why don't we understand that there are no free lunches and no one is out there to provide charity to us !

[Blacklisted]

Originally Posted by Prash1407

Questions:
1. As everyone knows, there are no free lunches in the world.. so why me?

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 can't answer your question 2 and 3 as they were not clear to me but for 1, its pretty obvious. If you still have not got it, here are some references that might help:
https://www.indiatoday.in/technology...522-2024-05-22
https://www.livemint.com/money/perso...637587757.html
https://timesofindia.indiatimes.com/.../110458093.cms

[DudeWithaFiat]

So I got a call from +91.9999888347 this morning exactly the same as how the scam call is described in the opening post. Since I was aware of this (thanks to this thread and a newspaper article from last week), I started recording the call and played along a bit. I asked the 'customs officer' the details of his team, his employee ID and his boss's name. He gave me his name, an employee ID (CRPI122) and his teams name. I told him I am asking because, "I work for customs department myself and I am familiar with all the procedure..... <kee...kee..>. He disconnected the call.

[dailydriver]

A very sane, intelligent, generally world-aware colleague fell prey to scamsters recently and ended up losing more than ten lakh rupees. Will need some time to talk to him and get the complete details, but the following news report shows how even highly educated folks end up being victimized.

[HIGHWAY_PATROL]

From today's Bengaluru edition of 'The Hindu'

[indie_honda]

Recently I received a call from someone posing as a FedEx executive. They informed me that an international parcel sent from Mumbai to Taiwan had been intercepted due to an illegal substance found in it. The scammer said I needed to come in for a discussion or pay a fine to settle the matter.

Since I had indeed sent a courier recently though to Delhi and not Taiwan I was initially intrigued. However I quickly smelled a scam thanks to this post I had recently reviewed. Instead of cutting the call short I decided to have a bit of fun. I told the scammer that I had paid a fine for the same consignment last month and mentioned that there was now a "mutual understanding" for such consignments going forward.

It was a hilarious moment watching the scammer scramble and finally disconnect the call. Thanks to this thread.

[joserajesh]

I too received a call from Fedex. I was expecting a courier from my dad and hence when I heard Fedex and the automated message stating that there was an issue with the package I dialled 1 to get more details (as requested by the automated message). A normal hold music played for a minute and then some guy picked up. I mentioned that I had received an automated call stating that there was an issue with the package. He asked for my name and mobile number and on providing the same he went into the usual spiel about your package that was sent from Mumbai to Thailand has some illegal drugs and that I would need to sort this out.
I realized it was a scam when he mentioned this as I have not been in Mumbai any time in the last 15 years and there was no way that I could have sent a package. Anyway he continued and said that your package has been held because it has been identified as carrying illegal drugs.
On hearing this I simply said, "Yes. I have sent cocaine." Complete silence for 5 seconds and a quick hangup.

[HIGHWAY_PATROL]

Yet another one.. from today's Bengaluru edition of 'The Hindu'.