Teenage Instagram `influencer' drains Rs. 42 lakh from 200 people

The Rajasthan police recently busted a fake investment scheme by a teen social media influencer. The imposter cheated more than 200 people of about ₹42 lakh through a bogus investment scheme. The 19-year-old fraudster was identified as Kashif Mirza, who was arrested from Rajasthan's Ajmer.

The state police on Monday revealed that Kashif Mirza was a class 11th student, who targeted social media users by luring victims with fake investment schemes. The teen was an "influencer" and had a huge number of followers on Instagram.

The report said that the 19-year-old persuaded his victims into investing in the scheme by guaranteeing that they would earn ₹1,39,999 after 13 weeks on an investment of ₹99,999. Initially, he paid the promised profits to some investors so that they could influence and tell more people.

How to keep away from online cheats

--Before investing in any scheme, plan, or policy, you should carry out proper research about the company or individual. Ensure the credibility of the institution through online and offline research.
--Fraudsters usually lack transparency in their investment strategies and offer guaranteed returns. The trick is to identify the loopholes in the investment plans.
--Check if the investment company and the individuals offering the investment schemes are properly regulated by relevant financial regulatory authorities.
--Do not share passwords and leave any documents that contain access to financial data in an unsecured area.
--Banks don’t send emails or text messages asking for personal information such as account and/or social security numbers. Thus, any imposter requesting for verification of account information in this manner must be promptly alerted.

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