Borabanda resident duped of Rs 7.6 lakh by scammers posing as Standard Chartered Bank agents

Hyderabad: A 28-year-old resident of Borabanda has fallen victim to an elaborate WhatsApp investment scam that falsely invoked the name of Standard Chartered Bank.

Cybercrime police say the man was duped of Rs 7.60 lakh after being lured by promises of ‘800% guaranteed returns.’

Fake group masquerading as legitimate bank

The victim was added to a WhatsApp group titled ‘84 Standard Chartered India Investment Group.’ Fraudsters sent forged SEBI registration certificates, claimed direct links with Standard Chartered, and shared access to a bogus trading portal (https://app.standaredchart.vip).

Step-by-step deception

Officials said the man began investing small sums in early August, encouraged by claims of ‘daily profits.’

By August 23, his total investment had risen to Rs 7.6 lakh. The platform showed a fabricated balance of Rs 45 lakh, convincing him his money had multiplied.

Demands for more money

Before ‘releasing’ the fictitious gains, the fraudsters demanded an additional Rs 9 lakh and 25 per cent commission. When the victim refused and asked for the amount to be deducted from his displayed balance, he was blocked from the group and the trading site.

Complaint and investigation

Realising he had been conned, the man approached the Hyderabad Cybercrime Police, who have registered a case and initiated a probe into the organised racket.

Police caution public

Cybercrime officials issued the following advisory:

- Banks and SEBI-registered firms never run investment schemes through WhatsApp, Telegram or Facebook.

- Verify offers only via official SEBI and RBI websites.

- Never transfer money to personal accounts or rely on links shared by strangers.

- Report suspicious activity immediately on the National Cybercrime Portal (www.cybercrime.gov.in) or dial 1930.

- Hyderabad Cybercrime helpline: 8712665171.

- Authorities urged residents to follow their verified handles on Facebook, Instagram, and X (@CyberCrimesHyd) for regular awareness updates.