Cyber fraudsters cheat Amravati residents of Rs 9.32 crore in share market scams since 2023

Cyber fraudsters have cheated people in Amravati of crores of rupees by luring them to invest in the share market with promises of big profits within a few days. Fraud committed in the name of share market investment from 2023 to September 2026 has reached Rs 9.32 crore, said cyber department head Satish Patil.

In the first nine months of this year, 32 cyber fraud cases were registered in the city. In these cases, citizens lost a total of Rs 3,53,46,903. After a technical investigation, police froze Rs 1,19,70,929 of that amount. Patil said this helped reduce the loss to some extent.

Besides these 32 cyber fraud cases, 3 cases related to obscene material and 3 cases related to social media were also registered this year. People therefore need to be more careful when making online transactions and using social media.

Cases of digital arrest and online cyber fraud are rising in the city and in rural areas. Senior citizens and retired officers in particular are being targeted and robbed of lakhs of rupees.

In October, a retired bank manager from Shankar Nagar was frightened with false claims on a video call. He was told that his Aadhaar card had been misused for terrorist activities, and Rs 80.80 lakh was extorted from him. Amravati cyber police conducted a technical investigation, froze Rs 40 lakh of that amount and got it returned to him.

In August, an attempt was made to place an elderly couple under digital arrest on a false money laundering charge. Their son-in-law stayed alert and the fraud was averted. Earlier, a retired judge had also been cheated of Rs 31 lakh.

The figures for share market fraud show a sharp rise in this type of crime since 2023. Cyber fraudsters do not keep the money obtained through fraud directly in their own accounts. It is routed through other people's bank accounts, and account holders are lured with money to let their accounts be used. Such accounts can make it difficult to trace the defrauded money.

In the investigation of 3 cases related to this type of fraud, police have arrested 3 people.