In an effort to prevent cyber-scams, the Goa police’s cybercrime unit on Friday asked users to immediately deactivate online investment advertisements on their social media accounts.
Cybercrime SP Rahul Gupta said, “If you don’t block such advertisements, they will keep coming to you because that’s how the social media algorithm works.” He added, “If you show interest in a particular topic, the algorithm keeps pushing such content towards you. So, you should always block the ads. You can consult professionals to verify the genuineness of an offer.” Gupta said in Goa a common type of fraud involves the investment bait.
“You will see an advertisement on Facebook, Instagram, or Telegram. Somebody might send you a WhatsApp link,” he said. “The fraudster will also claim that you will get high returns on your investment if you join a Telegram or WhatsApp group.”
The SP said cyber fraudsters send a link to such groups to lure people. “In a group of this nature, many people will be talking about stock and investment tips. One of them will ask you to invest, and you will transfer money to their account,” Gupta said.
“On a few online platforms, you can see your investment seemingly increasing day by day, and you will gain trust in that company.”
However, according to investigators, a display of staggering earnings is typically an indication of cyber fraud.
According to Gupta, legitimate investment platforms are subject to financial regulations that are upheld by the Sebi and the RBI. According to him, the majority of other platforms are fake. “If somebody is offering you returns on your investment that seem very high, you should always start doubting the scheme.” Gupta said.
Also read: Unveiling the Ethical Imperatives: Navigating the Intersection of AI and Cybersecurity
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