A 48-year-old stock trader from Gachibowli, Hyderabad, lost Rs 3.37 crore in an investment scam. It began with a deceptive WhatsApp invitation to join International Stock Trading Account , promising upper circuit stock trades. He initially invested 60 lakh, believing in the scheme s legitimacy. Subsequent transactions, guided by fake executives, led to mounting losses.
A Bengaluru businessman, new to stock market trading, lost a staggering ₹5.2 crore in an online scam. He fell prey to cybercriminals who convinced him to download a fraudulent mobile app promising high returns via WhatsApp.
When multinational companies do not pay their income tax but instead bank it in offshore accounts, the national treasury has missed an opportunity to collect revenue.