Beware of Cryptocurrency and Trading Scams: Protect Yourself from Online Fraud

Beware of scammers trying to use deceptive tactics to lure you into investing in non-existent cryptocurrencies / trading platforms or engaging in illegal gaming.

Modus operandi:

Fake websites and apps: Scammers create fake gaming / trading / investment websites or apps that mimic popular platforms to lure users into signing up with promises of unrealistically high returns. These websites or apps may also distribute malware or steal confidential financial and personal information
Phishing: Scammers send out phishing emails or messages (text or WhatsApp) purporting to be from legitimate gaming or trading platforms with links to fake websites designed to steal login credentials and personal information.
Social media scams: Use of social media platforms such as Telegram, Facebook, Instagram etc. to promote fake giveaways, investment schemes or trading tips.
Ponzi schemes: Scammers promote Ponzi schemes disguised as legitimate investment opportunities with lucrative returns but instead use the funds from new investors to pay off the previous ones.
Unregulated trading platforms: Some scammers operate unregulated trading platforms that claim to offer gaming related assets or trading services. However, they may manipulate prices or refuse to honour withdrawals, ultimately defrauding users.

Protect yourself from these scams:

Do a thorough research: Look for reviews, ratings, verify company’s credentials to gauge legitimacy and reliability. Stick to reputable gaming and investment platforms.
Check URLs: Examine the URL of the website before clicking. Make sure it matches the official website's domain and check for slight variations or misspellings.
Look for secure websites: Check if the website uses “https://” in its URL, indicating a secure connection.
Check permissions: Review the permissions requested by the app before installation. Be cautious of apps that ask for unnecessary access to personal data or device functions.
Secure personal information: Never provide sensitive financial and personal information unless you are certain of the app's legitimacy and trustworthiness.
Verify the source authenticity: Always download verified apps from trusted sources like Google Play Store or App Store only.
Avoid unnecessary downloads: Be cautious about downloading files or software from unfamiliar websites, as they may contain malware.
Check for red flags: Look out for red flags such as poor grammar and spelling in communications, unprofessional website or app design, and offers of unrealistically high returns.
Report suspicious activity If you encounter a suspicious lending app or believe you have been a victim of fraud, report it to National Crime Reporting Portal on Click here or dial 1930.
Register for transaction alerts: Register for SMS / Email alerts and check your statement regularly. Report any unauthorised transactions immediately.
Monitor financial accounts: Regularly monitor your bank accounts and credit reports for any unauthorised transactions or suspicious activity related to loans or financial products.