Thiruvananthapuram | Kerala is witnessing a sharp rise in cyber frauds, with 23 cases registered at the cyber police stations in the state since September 1 involving bogus online share trading, cryptocurrency, and forex investment schemes.
Victims have collectively lost over Rs 33 crore in these scams between September 1 and 13, officials said on Sunday.
The biggest loss was reported in Kochi, where a pharma businessman was duped of Rs 24.76 crore after investing in a fake online share trading platform named Capitalix.
"After the Kochi case came to light, several others approached police with similar complaints. Interestingly, many victims are highly qualified, including two doctors. We expect more such complaints in the coming days," a Thiruvananthapuram cyber police officer said.
According to police, besides the Kochi businessman, a doctor in Idukki lost Rs 1.63 crore, while a Wayanad native was cheated of Rs 1.03 crore in similar frauds. Authorities have managed to trace and freeze several bank accounts where the money was transferred.
In Thiruvananthapuram, a woman from Kudappanakunnu lost Rs 96.60 lakh after investing in the same Capitalix scheme that duped the Kochi businessman.
"The modus operandi is the same: victims are lured with promises of high returns, given access to fake trading apps showing exaggerated profits, but are unable to withdraw their money," police said.
As many as six cases were registered by the Thiruvananthapuram city cyber police. Similarly, Kasaragod cyber police reported four online investment fraud cases this month.
There were two cases each reported at cyber police stations in Palakkad, Wayanad, and Alappuzha.
Additionally, cases have been reported at cyber police stations in Kochi, Thiruvananthapuram Rural, Idukki, Kollam City, Kollam Rural, Malappuram, and Thrissur Rural, police said.
Last week, Kerala Police had warned the public about the growing online investment scams. They urged anyone encountering suspicious investment adverts or falling victim to report it immediately—either by calling the cyber helpline 1930 or through the national portal www.cybercrime.gov.in.
Reports should be made within an hour for the best chance of recovering funds, officials said.
