A major cyber fraud case has surfaced in Uttar Pradesh's Ghaziabad district, where a cloth merchant was allegedly cheated of ₹33.49 lakh after being lured into a fake online trading scheme through Facebook.
Following the victim's complaint, the Cyber Crime Police Station registered a case under relevant legal provisions and launched a technical investigation to trace the money trail and identify those behind the alleged fraud.
Facebook Friendship Allegedly Used to Build Trust
According to investigators, the victim, a textile businessman from Muradnagar, first came into contact with the accused after receiving a friend request on Facebook.
Police said the fraudsters gradually built trust through regular online conversations before introducing what they described as a highly profitable online trading and business opportunity.
The victim was allegedly assured of attractive returns on short-term investments, prompting him to participate in the proposed scheme.
Multiple Bank Transfers Led to ₹33.49 Lakh Loss
Investigators allege that the fraudsters instructed the businessman to transfer money into several different bank accounts, claiming the payments were required to secure trading allocations and business investments.
Over multiple transactions, the victim allegedly transferred a total of ₹33.49 lakh.
Authorities said that once the funds had been received, the suspects allegedly blocked all communication, deactivated their social media profiles and disappeared without providing any services or returns.
Cyber Police Tracing the Money Trail
After realising he had been cheated, the businessman approached the cybercrime police and filed a formal complaint.
Investigators have begun examining:
- Bank transaction records
- Know Your Customer (KYC) documents
- Beneficiary account details
- Digital communication records
- Online financial trails
Police suspect that the network may have used mule bank accounts to layer and transfer the stolen money across multiple financial channels.
The investigation is continuing to determine whether additional victims or accomplices are linked to the operation.
Social Media Investment Scams on the Rise
Cybersecurity experts warn that fraudsters increasingly use social media platforms such as Facebook and Instagram to identify potential victims.
By creating convincing online identities and promoting unrealistic investment opportunities, criminals exploit trust before persuading victims to transfer money.
Experts advise investors and business owners to independently verify any investment opportunity through authorised financial regulators and avoid transferring funds based solely on social media interactions or online promises.
Public Safety Advisory
Authorities recommend that citizens:
- Be cautious of unsolicited investment offers received through social media.
- Verify the credentials of any investment platform before making payments.
- Avoid transferring money to unknown or multiple bank accounts.
- Report suspected cyber fraud immediately through the National Cyber Crime Helpline (1930) or the nearest cyber police station.
Early reporting significantly improves the chances of freezing fraudulent transactions and recovering funds.
Shunyatax Global Insight
The Muradnagar case demonstrates how cybercriminals continue to exploit social media platforms to execute sophisticated investment frauds. As online financial scams evolve, public awareness, due diligence and prompt reporting remain the strongest defences against digital financial crime.
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