🚨 Beware of Stock Exchange Fraud via WhatsApp Groups! 🚨
In recent times, a concerning trend of stock market frauds has emerged through WhatsApp groups, targeting unsuspecting investors. Scammers leverage these groups to build trust and promise unrealistic returns, leading to significant financial losses for many. Here’s how the fraud typically unfolds:
How Stock Market Frauds on WhatsApp Groups Work
- Free Tips and Reviews – Scammers start by offering free stock tips and market reviews to attract members to their WhatsApp group.
- False Trust-Building – The group features a so-called “Professor,” assisted by fake accounts acting as enthusiastic members and assistants to create a sense of credibility.
- Daily Market Reviews & Tips – The “Professor” shares daily reviews, recommendations, and portfolio advice, boosting his reputation as a stock market expert.
- Unrealistic Profit Promises – Members are then enticed with promises of returns like 200%-1500% in a few months on a “new platform.”
- Payment Traps – Members are asked to make deposits in unknown accounts for “special” stock discounts, which are merely simulated, system-generated trades.
- Endless Deposits – The scam continually pushes members to deposit more with claims of additional allotments, fake IPO opportunities, and massive profits, which only exist in the manipulated system.
- Withdrawal Delays & Demands – When members try to withdraw, scammers impose handling fees, profit-sharing, and even “taxes” that must be paid upfront, adding to the fraud.
Red Flags of a Scam Group
From the “Professor” and the “Platform” to the bank accounts and fake profits shown on the system – everything is fabricated. Scammers play on people’s greed, leading to mounting losses.
- Unrealistic returns like 200%-1500% within months
- Payment requests to unknown accounts with constantly changing names
- Excessive allotment of shares with requests for more deposits
- Demands for handling charges and “taxes” on profits to withdraw funds
🚨 Avoid Joining WhatsApp or YouTube Groups Promising High Stock Market Profits!
If you are already involved in such schemes, stop making any payments immediately. Contact the Cybercrime Branch at 1030 to report the fraud.
Protect Yourself from Stock Market Scams
- Stay Cautious – If something sounds too good to be true, it likely is.
- Seek Reliable Advice – Only consult licensed, reputable financial advisors or share brokers.
- Avoid Unverified Groups and Platforms – Stick to established and regulated investment channels.
Stay Safe, Invest Wisely, and Avoid Falling Victim to Fraud.
Jai Hind!
This alert is brought to you by Riddhi Siddhi Share Brokers. We urge all investors to remain vigilant and report any suspicious activity to protect themselves and their assets.