Senior Investor Defrauded of ₹1.08 Crore in Sophisticated Social Media Investment Scam

A 75-year-old Navi Mumbai trader has been defrauded of ₹1.08 crore in a meticulously orchestrated online investment scheme, highlighting the escalating threat of cyber-enabled financial crimes targeting vulnerable demographics. The scam originated through a Facebook advertisement promising lucrative stock market returns, which lured the victim into a fraudulent investment platform. This incident underscores the growing sophistication of social media-based financial fraud, where perpetrators exploit digital advertising to establish false credibility and solicit substantial funds. Analysis indicates that such schemes often employ psychological manipulation, leveraging promises of high returns to bypass rational scrutiny. The case raises critical concerns about the regulatory oversight of online investment solicitations and the efficacy of current consumer protection frameworks in the digital age. Authorities are investigating the transnational dimensions of the fraud, which likely involves complex money laundering networks. This event serves as a stark reminder for investors to exercise extreme caution with unsolicited online financial opportunities and for platforms to enhance verification protocols for financial advertisements.