Cyber Crime Branch busts interstate stock market fraud gang, two arrested

 

 

 

The State capital’s Cyber Crime Branch has dismantled an inter-state gang involved in high-profile financial fraud under the guise of stock market investments. Following a meticulous investigation, police arrested two suspects from the Bhaugarh area of Mandsaur district. The accused were allegedly opening bank accounts in their own names and selling them to cybercriminals, who utilised these accounts to launder cheated money across the country. The investigation was initiated following a complaint lodged in August 2024 by a resident of Misrod. The complainant alleged that he was lured into investing via a fraudulent ‘stock market application’ that promised exponential returns. Deceived by the sophisticated interface and false promises, the victim transferred a total of Rs 9,91,900 in multiple installments. He realised he had been swindled only when he was unable to withdraw his purported profits. By conducting a technical analysis of transaction logs and mobile data, the Cyber Crime team traced the financial trails to Mandsaur.

 

A targeted raid in Bhaugarh village resulted in the arrest of Gulsher Khan and Rajnish Bareth. Authorities recovered two mobile phones and two SIM cards used in the commission of the crime. Initial interrogation revealed that the suspects’ bank accounts have been linked to multiple fraud cases in other States. A manhunt is currently underway to apprehend their associates. In light of rising digital fraud, the Cyber Crime Branch has issued an advisory to citizens. Schemes offering money in exchange for YouTube subscriptions or ratings are entirely fraudulent. Fraudsters often build trust by paying small amounts initially (Rs 50-Rs 100) before demanding large investments. The ‘profit’ displayed on unauthorised apps consists merely of digits on a screen. Never pay ‘taxes’ or ‘processing fees’ to withdraw this amount.

 

Never share your OTP, CVV, or PIN with anyone claiming to be a bank official. Avoid answering video calls from unknown numbers on WhatsApp, as these are frequently used for ‘sextortion’ and blackmail. Do not install applications like AnyDesk or TeamViewer at the behest of strangers. These tools allow scammers to gain full control of your mobile device and banking apps.