Kannur man loses Rs 41 lakh to stock trading scam

Cyber crime
Representational image: Shtterstock

A Kannur native has filed a complaint about losing Rs 41 lakh to an online scam on the pretext of stock trading.

According to the Kannur Town Police, the complainant responded to an advertisement on Facebook that offered high returns through capital market investment.

The complainant said he transferred the money to the personal account of Karthikeyan from 'Creset Asset Management' based out of Chicago, who gave him tips regarding selling shares of five companies,

“The Rs 41 lakh was invested online by using links shared by the agent at various times. But, he did not get a profit nor the invested amount,” the police said. According to the cops, cyber criminals use the same modus operandi to steal lakhs.

The police have urged the public to avoid unsolicited calls, emails or messages pretending to be a banking official. Those who lose money to online fraud should immediately inform the police by dialling 1930. The public can also register complaints through the police website.

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