Simple free ‘Online App’ that induced, cheated over 5 lakh people by promising them lucrative returns 

Team Udayavani, Jul 3, 2021, 10:11 AM IST

New Delhi: Delhi Police’s Cyber Cell last week busted a syndicate run by a group of Chinese nationals who were stealing data and have cheated over 5 lakh Indians of over Rs 150 crores via fake investment apps, as reported by Anyesh Roy, Deputy Commissioner of police of Cyber Crime Cell (CyPAD).

According to the police, 11 persons, including two Chartered Accountants, were arrested in a crackdown on multiple financial investments and assured high return Apps run by Chinese nationals using the Multi-level marketing (MLM) model for cheating. These Apps have been circulated by the fraudsters in maximum numbers and some of these fraudulent and malicious Apps were also listed on Google Play Store. These apps were later taken down by Google Play Protect team.

According to the current estimates, the total cheated amount is around Rs 150 Crores and the total recovery so far in cash, bank accounts and payment gateways is around Rs 12 Crores.” stated Roy. Further adding that their footprints have been confirmed in West Bengal, NCR Region, Bengaluru, Odisha, Assam and Surat. And 30 mobile phones were recovered from the accused Robin, whose disclosure revealed a startlingly well-planned conspiracy of cheating and fraud being organized by Chinese nationals through a labyrinth of shell companies, bank accounts and dummy mobile numbers.

How to ensure that we can be safe from such fraud?

No, never install any Apps that are shared in .apk format on messaging platforms (WhatsApp, Messenger, Telegram, etc). Always ensure the download from trusted sites/play store/app store.

Authored by Prithveesh K
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