{"id":22515,"date":"2025-03-23T13:43:27","date_gmt":"2025-03-23T08:43:27","guid":{"rendered":"https:\/\/vglobenews.com\/?p=22515"},"modified":"2025-03-23T13:43:27","modified_gmt":"2025-03-23T08:43:27","slug":"bank-agm-duped-of-%e2%82%b91-35-crore-in-online-trading-scam","status":"publish","type":"post","link":"https:\/\/vglobenews.com\/?p=22515","title":{"rendered":"Bank AGM Duped of \u20b91.35 Crore in Online Trading Scam"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Bank\u2019s AGM Loses \u20b91.35 Crore in Online Investment Fraud<\/strong><\/p>\n\n\n\n

Mumbai:<\/em> A 45-year-old Assistant General Manager (AGM) of Bank of India<\/em> has fallen victim to a sophisticated cyber fraud, losing \u20b91.35 crore in what she believed to be a legitimate investment scheme. The fraudsters lured her through a WhatsApp group, manipulated her into downloading fraudulent trading apps, and displayed false profits to gain her trust.<\/p>\n\n\n\n

The Cyber West Police registered a case on Thursday and launched an investigation into the large-scale online scam.<\/p>\n\n\n\n

Fraud Scheme and Execution<\/strong><\/h3>\n\n\n\n

According to police sources, the victim, a resident of Juhu, was added to a WhatsApp group on December 9, 2024, by a person using the alias Sovit Dwivedi.<\/em> The group regularly shared stock market tips and investment opportunities, allegedly offering high returns.<\/p>\n\n\n\n

Intrigued by the lucrative claims, the AGM engaged in conversations with two women who introduced themselves as Dwivedi\u2019s associates. They persuaded her to download two mobile applications, QuantsAIS<\/em> and Angel One,<\/em> which they claimed were trading platforms. The fraudsters also obtained her Aadhaar details and provided her with login credentials for a supposed investment account.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Massive Financial Loss Over Multiple Transactions<\/strong><\/h3>\n\n\n\n

Trusting the platform, the AGM started investing, transferring money into various bank accounts specified by the fraudsters. Between December 10, 2024, and January 21, 2025, she conducted over 20 transactions, collectively amounting to \u20b91.35 crore.<\/p>\n\n\n\n

During this period, the apps displayed fabricated stock purchases and steadily rising profits. At one point, the victim\u2019s app showed an alleged profit of \u20b96 crore, reinforcing her belief that she had made a successful investment.<\/p>\n\n\n\n

However, when she attempted to withdraw her profits, the application denied the request. On contacting customer service, she was given vague responses and excuses. Realizing she had been defrauded, she demanded a refund of her principal investment. The fraudsters then cut off communication, ignoring her calls and messages.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Police Investigation Underway<\/strong><\/h3>\n\n\n\n

Upon realizing the fraud, the AGM approached the Cyber West Police, who registered a case under relevant sections of the Bharatiya Nyaya Sanhita, 2023<\/em>, and the Information Technology Act, 2000.<\/em><\/p>\n\n\n\n

Authorities have begun tracing the bank accounts where the victim’s money was transferred and are working on identifying the fraudsters. Cybercrime officials have also warned the public about the growing menace of online investment scams, advising citizens to verify investment platforms thoroughly before making transactions.<\/p>\n\n\n\n

As cyber fraud cases continue to rise, police urge victims to report such incidents immediately, enabling swift action against fraudulent networks.<\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

Bank\u2019s AGM Loses \u20b91.35 Crore in Online Investment Fraud Mumbai: A 45-year-old Assistant General Manager (AGM) of Bank of India has fallen victim to a sophisticated cyber fraud, losing \u20b91.35 crore in what she believed to be a legitimate investment scheme. The fraudsters lured her through a WhatsApp group, manipulated her into downloading fraudulent trading […]<\/p>\n","protected":false},"author":1,"featured_media":22514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[19,15],"tags":[1865],"class_list":["post-22515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crime","category-national","tag-cyberfraud-onlinescam-investmentfraud-bankfraud-tradingscam-cybercrime-financialscam-scamalert-fraudawareness-onlinesafety"],"yoast_head":"\nBank AGM Duped of \u20b91.35 Crore in Online Trading Scam - VGlobe News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vglobenews.com\/?p=22515\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank AGM Duped of \u20b91.35 Crore in Online Trading Scam - VGlobe News\" \/>\n<meta property=\"og:description\" content=\"Bank\u2019s AGM Loses \u20b91.35 Crore in Online Investment Fraud Mumbai: A 45-year-old Assistant General Manager (AGM) of Bank of India has fallen victim to a sophisticated cyber fraud, losing \u20b91.35 crore in what she believed to be a legitimate investment scheme. 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