Beware of Facebook Ads: Punjab Senior Citizen Loses Rs 1.5 Crore

As technology advances, cyber crimes are becoming increasingly sophisticated. In the latest case of cyber fraud, a senior citizen in Mohali, Punjab, lost Rs 1.5 crore.

The ordeal began when the victim, Rajandeep Singh (64), clicked on a random pop-up notification on Facebook. According to reports, the notification promised high returns in the names of reputed firms such as HDFC Securities Pvt Ltd and Upstox Pvt Ltd.

On clicking the link, Singh was added to a WhatsApp group called ‘B-7 HDFC Market Navigation’. He first invested Rs 10,000, which the fraudsters doubled on a fake trading ID. To build credibility, the scammers posed as company CEOs, displayed forged SEBI certificates, and used professional setups to trap victims.

Encouraged by the apparent gains, Singh invested larger sums — first Rs 71.34 lakh, then Rs 34.35 lakh. Each time, the investments appeared to double on newly created IDs. What Singh failed to realize was that only the numbers were manipulated; no real money was being credited.

He grew suspicious only when the fake accounts and IDs were suddenly deleted, leaving his money gone without a trace. “They first showed me double returns on Rs 10,000. That convinced me to invest more, but in the end, they vanished after taking all my money,” Singh said.

Police described the fraud as a “highly organised” scam involving fake company names and professional tools. The Cyber Crime Police has registered a case against two unidentified persons under sections of the BNS and Section 66C of the IT Act.

Authorities have also warned of a surge in such scams and urged citizens to exercise caution, avoid sharing personal details, and refrain from clicking on unverified links online.