Digital HarmsTrackerBeta
All incidents

64-year-old Mumbai woman loses ₹49.10 lakhs in fake share trading app fraud via WhatsApp groups

Nov 20, 2024Mumbai, India1 source

Summary

A 64-year-old woman in Mumbai lost Rs 49.10 lakhs in a share trading fraud between November 20, 2024, and January 5, 2025. The fraudsters used WhatsApp groups titled "F2-MSF SecuritiesCharity Aid" and "VIP-MSF SecuritiesCharity Aid" to lure her into a fake trading app called "QuantsAIS," which displayed fabricated profits. The scammers, identified as Sovit Dwivedi, Aaliya Gaur, and Aisha Sharma, communicated with the victim using multiple mobile numbers and convinced her to transfer funds across several bank accounts. After the final transfer, the scammers disappeared without delivering any promised returns. The victim filed a complaint with the Cyber Police Station in Worli and provided WhatsApp chat screenshots and other documents. A First Information Report (FIR) was registered, and authorities are investigating the money trail and the suspects.

Incident Details

Domain
Fraud & Financial
Harm Types
AI-Powered Financial Fraud
Mechanism
conduct
Platforms
WhatsApp
Companies
MSF SecuritiesCharity Aid
Recipient
IndividualA 64-year-old pensioner from Mumbai
Dimensions
economic

Sources

1
Mumbai woman duped of Rs 49 lakhs in share trading fraud - The Times of India
Google News Historical Backfill·Apr 8, 2025

This incident is documented by a single source. Source count reflects coverage in our monitored feeds, not the totality of reporting, and we do not evaluate publication quality.