Karnataka banker defrauded in elaborate online trading scheme

The banker, whose identity has been withheld pending investigation, was allegedly approached through social media platforms by individuals claiming to operate a registered trading platform. The fraudsters initially offered attractive returns on investment in stocks and cryptocurrency, gradually building trust before directing the victim to transfer funds through multiple channels.

According to initial reports, the scammers employed a multi-stage approach, first requesting small investments to demonstrate the platform's legitimacy. After receiving positive returns on these initial transactions, the victim was encouraged to invest larger amounts, at which point the fraudsters disappeared with the funds.

Police in Bagalkot have registered a case under relevant sections of the Indian Penal Code and the Information Technology Act. Investigators are working to trace the digital footprints of the accused, including tracking transaction details and identifying fake social media accounts used in the scheme.

The incident underscores the vulnerability of educated professionals to increasingly sophisticated financial fraud. Authorities have urged citizens to verify the credentials of any investment platform through official regulatory channels and avoid responding to unsolicited investment offers on social media platforms.