Pune: Altogether 226 citizens collectively lost over Rs116 crore in online share trade frauds between Jan and Sept 20 this year, a multifold rise from 56 losing over Rs8 crore to such cons in 2023. Pune cyber police figures showed that of the 226 victims this year, 106 lost over Rs25 lakh each. An officer said most of the victims were highly qualified software engineers.
Additional commissioner of police (Crime) Shailesh Balkawade said human greed and tendency to make quick and easy money appeared to be the biggest factors exploited with impunity by cybercriminals to execute such frauds. "There is also an over-dependence on online transactions, which technology has made easier, as people these days avoid going to banks, unlike yesteryears. The tendency to fall for messages promising unrealistic returns and to act on the same without applying much thought or consultation with individuals familiar with online systems is another reason," he told TOI.
Cyber police inspector Swapnali Shinde said, "Online fraudsters promised even 800% returns to investors in some cases. Without verifying anything or going through documents, the victims trusted these promises made by fraudsters and transferred money. More commonly, fraudsters promise 100-200% returns to their targets.
" A top finance executive of a Balewadi-based multinational company lost Rs3.28 crore to online fraudsters earlier this year. He sold his ancestral house, jewellery and exhausted all his savings to pay money to fraudste.