Chandigarh: Cyber police have registered a case against unidentified fraudsters for allegedly duping a city resident of Rs 13.55 lakh under the guise of high returns from online share trading. Investigators are tracking the money trail, but no arrests have been made yet.
Complainant Harish Jatana, a Sector 15 resident, said on July 18, he was contacted via WhatsApp by a woman identifying herself as Ankita, claiming to be a Bank of Baroda staffer representing a group called BoB-CAPS. She shared account registration forms, which Jatana filled and returned.
The victim was advised to trade through a mobile app linked to the website bobcaps-Qib.com. Trusting Ankita's recommendations, he transferred Rs 13.55 lakh in multiple transactions. However, when he attempted to withdraw his funds, the fraudsters demanded additional payments.
Repeated follow-ups with Ankita on August 31 went unanswered, prompting Jatana to lodge a complaint at the Sector 17 cyber police station. Police are scrutinizing the accounts where the money was deposited to trace the culprits.
# The Bitter Lesson: How a 'Stock Expert' Scam Cost a Chandigarh Man Rs 13.55 Lakh
In the fast-paced world of online investing, where promises of quick riches lure in eager participants, one wrong click can turn dreams into nightmares. Imagine getting a friendly WhatsApp message from someone claiming to be a banking pro, offering insider tips on stock trades that could multiply your money overnight. Sounds tempting, right? That's exactly how Harish Jatana, a resident of Sector 15 in Chandigarh, found himself out of pocket by a staggering Rs 13.55 lakh. This isn't just another cautionary tale—it's a stark reminder of how sophisticated cyber fraudsters are preying on our trust in the digital age.
## The Deceptive Hook: A Message That Seemed Legit
It all started on July 18, 2025, when Jatana's phone buzzed with a WhatsApp notification. The sender? A woman named Ankita, who introduced herself as a staffer from Bank of Baroda's "BoB-CAPS" group—a seemingly official-sounding investment advisory circle. With a polished profile and confident tone, Ankita wasted no time reeling him in. She shared "exclusive" stock tips, registration forms, and a link to a mobile trading app tied to a website called bobcaps-Qib.com. To the untrained eye, it looked like a seamless extension of a trusted bank.
Jatana, like many of us juggling daily life and side hustles, saw an opportunity. He filled out the forms, downloaded the app, and started following her recommendations. One trade led to another, and soon he was transferring funds—Rs 13.55 lakh in total, spread across multiple transactions to what he believed was a secure investment platform. The app's dashboard showed promising gains, virtual profits stacking up like digital gold. For a brief, exhilarating moment, it felt like he'd cracked the code to financial freedom.
## The Trap Springs: When Withdrawals Turn into Demands
Reality crashed down when Jatana tried to cash out his "winnings." The app froze. Support lines went silent. And then, the real demands began: extra fees for "tax clearance," "verification charges," or "platform upgrades." It was the classic scam escalation—dangling just enough hope to extract more money before vanishing into the ether.
By August 31, after weeks of ignored pleas, Jatana had had enough. He marched to the Sector 17 cyber police station in Chandigarh and filed a formal complaint. The police swung into action, registering a case against unidentified fraudsters under relevant sections of the Indian Penal Code and IT Act. They're now tracing the money trail through bank records and digital footprints, but as of now, no arrests have been made. The scammers, likely operating from call centers in distant states or even abroad, remain ghosts in the machine.
## Unpacking the Scam: A Playbook Straight Out of Cybercrime 101
This wasn't a random hit; it was a meticulously crafted operation. Here's how it typically unfolds in these stock trading frauds:
1. **The Bait**: Fraudsters scrape social media or public data to target middle-aged professionals like Jatana—people with disposable income but limited scam savvy. They pose as experts from reputable institutions (banks, brokerages) to build instant credibility.
2. **The Setup**: Fake apps and websites mimic real ones. In this case, bobcaps-Qib.com was a knockoff of legitimate trading portals, complete with flashy interfaces and simulated profits to hook victims emotionally.
3. **The Milk**: Small initial "wins" encourage bigger deposits. Once hooked, withdrawal roadblocks force desperate top-ups.
4. **The Ghost**: When the well runs dry, they block all contact and delete traces.
These gangs often use mule accounts—unwitting accomplices who relay funds—for laundering, making recovery a Herculean task. In India alone, cybercrime reports surged by 24% in 2024, with investment scams topping the list at over Rs 10,000 crore in losses.
## Lessons from the Loss: Shield Yourself in the Stock Market Jungle
Jatana's story is heartbreaking, but it's also a goldmine of red flags. Here's how you can fortify your defenses:
- **Verify, Verify, Verify**: No legit bank or broker cold-calls or WhatsApps investment tips. Always cross-check via official channels—call the bank's verified number or visit their site directly.
- **App Smarts**: Download trading apps only from official stores or broker sites. Use tools like Google Reverse Image Search on profile pics or WhoIs lookups on suspicious domains.
- **Start Small, Think Big (on Caution)**: Test with minimal amounts. If profits look too good (e.g., 20-30% weekly returns), they're probably fictional.
- **Tech Tools to the Rescue**: Enable two-factor authentication everywhere. Apps like Truecaller can flag spam numbers, and the National Cyber Crime Reporting Portal (cybercrime.gov.in) is your first stop if things go south.
- **Educate and Share**: Talk about these scams in family groups. Knowledge is the ultimate antivirus.
Remember, the stock market rewards patience, not haste. Real experts don't promise overnight riches—they emphasize research and risk.
## A Call to Action: Don't Let Scammers Win
Harish Jatana isn't just a statistic; he's a father, a professional, and now, an unintended advocate for cyber vigilance. As investigations continue, let's hope justice catches up with these digital predators. In the meantime, share this story—because the next WhatsApp ping could be targeting someone you know.
What are your scam survival tips? Drop them in the comments below. Stay safe out there, investors. The market's volatile enough without fraudsters adding fuel to the fire.
*Sources: Times of India (November 12, 2025)*
