A Kerala businessman was duped of Rs 7 crore after falling victim to an online investment scam. In the series of online frauds, this is the latest addition. The man reportedly lost Rs 7.66 crore to a fraudulent online investment scheme. The 33-year-old businessman from Kerala received a call from an unknown number. The man on the other end claimed to be an employee of the reputed financial services companies Invesco Capital and Goldman Sachs. The scammers lured the victim by promising him high returns.

In the hope of the same, the Kerala businessman started making small investments initially. After the initial investments, the fraudsters showed him a false statement highlighting the returns. This statement showed that his investment had increased to Rs 39,72,85,929. After this, the scammers asked the victim to increase his investments. However, the victim refused to do so.

The fraud came to light when the Kerlala Businessman tried to withdraw money. Even after trying several times, he was unsuccessful in withdrawing his invested funds. He tried to contact the person in charge but was unable to reach him through contact numbers. It was at this moment, that the businessman realised that he was cheated. He filed the complaint at the police station to register a case.

These online frauds are not new. Even actors like Anupam Kher and Rimi Sen have been cheated of their money through online fraud. It can come in any form. The first and easiest way to avoid such scams is to be always on your toes if someone promises you high returns with little to no risk. Apart from this, never invest at the advice of an unknown person. Do thorough research on any investment opportunity before committing to any funds. Always read for exit clauses in the contract. Confirm the accountability of the company by visiting their offices if possible. Try to scout the investment scheme through its reviews.

You should not share your personal or financial information with unknown websites or persons. The OTP scams are one of the widely used frauds by the fraudsters. You must never open unnecessary links and other pop-up texts.