By Tejaswita Upadhyay | Updated: April 7, 2025 – 2:16 PM
With the stock market booming and retail participation at an all-time high, a dangerous trend has emerged—investment scams flourishing on WhatsApp and Telegram, targeting unsuspecting investors with false promises of massive returns. Among the worst-hit are retired professionals, many of whom have lost crores in sophisticated online frauds.
As more Indians turn to equity markets hoping to grow their wealth, scammers have adapted their tactics to exploit this enthusiasm. Messaging platforms like WhatsApp and Telegram—originally designed for personal communication—have now become breeding grounds for fraudulent investment groups promising fast, easy money.
These scammers pose as investment advisors or representatives of reputed firms, share fabricated testimonials, and lure victims into fake apps or platforms to invest their savings.
A shocking incident from Mumbai has highlighted the severity of the situation. A 71-year-old retired finance professional fell victim to such a scam after being approached by a woman on WhatsApp. Claiming to represent a prominent investment firm, she introduced him to a Telegram group where supposed investors shared stories of impressive profits.
Over the course of a month, the victim was manipulated into investing close to ₹2 crore across 24 transactions through a fake trading app. When he tried to withdraw funds, he was asked to pay a “withdrawal tax.” That’s when the scam came to light. The victim has since filed a complaint with the Cyber Crime Cell.
Scammers use psychological tricks, fake social proof, and urgency to trap victims. Here’s how you can stay safe:
Beware of Unrealistic Returns: Stock market returns of 12–15% annually are normal. Any promise of guaranteed double or triple returns is a major red flag.
Verify SEBI or RBI Registration: Always check whether the person or platform giving you investment advice is registered with SEBI (Securities and Exchange Board of India) or RBI.
Avoid Unknown Groups: Fraudulent groups often share fake success stories to create a false sense of trust. Do not believe screenshots or testimonies shared in such forums.
Don’t Click on Suspicious Links: Never click on unfamiliar links or download apps that are not listed on official platforms like Google Play Store or Apple App Store.
Enable Two-Factor Authentication: Always use 2FA and never share OTPs, passwords, or confidential data with anyone, no matter how convincing they sound.
If you or someone you know has been a victim of an online investment scam, here’s how to take immediate action:
Report online at: cybercrime.gov.in
Call Cyber Helpline: 1930 (available nationwide)
File an FIR at the nearest Cyber Crime Police Station
Prompt reporting increases the chances of recovering your money and tracking the culprits.
Retired individuals often have access to savings or pension funds and may not be as tech-savvy as younger investors. Their desire for steady returns, paired with limited knowledge of digital frauds, makes them soft targets for financial predators operating under the guise of market “experts.”
The allure of quick profits can be tempting, especially with stock markets gaining popularity. However, it’s essential to approach investments with knowledge, caution, and verified guidance. WhatsApp and Telegram can connect people—but they also connect scammers with victims.
Stay informed. Stay alert. And when in doubt, consult a certified financial advisor—not a stranger on a messaging app.
