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PSoo..my mom is an online trader she’s been doing it for a couple of years. Whenever she had doubt with anything related to trading,she would ask this guy,let’s call him’Ganapathi’ and he would often help her with the doubts through website. Later on,she came across this website which made her download an application, ‘Trade gate ganapathi’which also made her get in contact with some of his(Ganapathi) clients. These clients contacted her thriugh whatsapp. At first,they started doing trading little by little. And then this client used her account and subscribed to something called ‘IPO’ without her permission. They told her that they wanted to make more profits and that they were also doing some trading stuffs on it. But since her account said that she was a subscriber,she had to invest in it,which was about 10 to 14 lakhs in rupees(Indian currency). She told them she wasn’t willing to do it as she couldn’t afford but they said that they would certainly have to file a complaint to Sebi upon losing the trust and that would later on restrain her from trading more. Since she couldn’t afford it,she decided to sell all the gold in the house and give the money. About 2 to 3 weeks passed, whenever she tried to call them, they wouldn’t respond. One day when she was in need of money so bad,she tried to contact pretty much all of their clients and later on contacted the ‘real owner’ of the real company. When she called him,he said they never do trading activities via whatsapp and that the application she had been using was not actually theirs. He recommend us to report it to cyber police and that he had already sent a report. We don’t know what to do now. Is there any way to get the money back?
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AShort answer, no, the money is gone.
Long answer, you can file a cyber crime report, escalate to bank etc. in hope of getting the money back, but you and I both know that the money is gone now.
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AUnfortunately not a lot can be done. My grandparents have lost a significant sum of money due to online scams. They have not got their money back.
All I can say is be there for your mom and try to educate her on how to stay safe from such scams. Teach her about the common scam practices.
Also be sure to scan her devices for unwanted apps, spyware and malware.
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PCan’t the cyber police track these criminals?? That way once they’re caught they owe us money right?
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AI cannot comment on that as I don’t know how good they are at catching such criminals
In my personal experience, in both cases where my relatives lost money, no money was recovered.
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MFiling a cyber complaint will certainly help. As soon as you file the complaint, they will start tracking the accounts you mentioned in the complaint and will also track the accounts into which the money was transferred from the scammer’s account. And in whatever account they get to see the money, they will hold it up and will update the same on the portal. After that, you can go to your nearby Cyber Crime Police Station or whatever station allotted by them for your case as per the portal. Take updates from them, and then, hire a lawyer, go to the court, and get the order passed for the amount blocked into the scammer’s account as fast as possible. As multiple people’s money could be held in that account, so whoever gets the order passed first will get the money. After getting the order, go to the bank mentioned in the order, and ask them to transfer the money into your account. I have helped 2 of my friends filing the case, one of them prompty took the further action, and got the money return within 2 months, but another friend didn’t bothered much, he thought that police should do all the work, therefore his amount which was blocked in the scammers account could not be retrieved.
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BYou should take finances into your hand and never let mom do any trading.
This scam is going since last 3-4 years.
Investment scam.
Money is gone. It was fake app. There was no profit. Scammers manipulate profit from back end.
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B99% money is gone. 1% chance to get back that too only court order. You have to report to cyber police station by visiting. Cops will freeze receiver account and all accounts where money is transferred. Then you need to submit court order and take back money.
Be careful, sometimes scammers come for second round where they promise to return or recover your/victims money and take whatever money you victim left with
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PI’m only 17 years old. I’m a computer science student. Both my parents and my sister took commerce. My mom and dad do trading and stock marketing alot . My sister studies for CA and she tried to warm mom several times but mom was hoping to get her money back and didn’t listen to her.
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BThere is high chance either of your parents get sucked into FnO trading which will make you lose everything all life savings.
Even many CA lose entire savings i to FnO trading.
Tell sister to take control of finances.Never buy anything except mutual funds.
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