The cybersecurity awareness department of the Indian government has issued a notice alerting the public to the presence of various investment scams being circulated on the popular messaging platform, Telegram.
Beware of Task-Based Investment Scams: Cyber Dost’s Warning on Social Media
The official cyber-safety and cybersecurity awareness account of the Ministry of Home Affairs, known as Cyber Dost, posted a message on social media, specifically on X (formerly known as Twitter), cautioning individuals to exercise vigilance when encountering messages that encourage them to complete tasks like following Instagram accounts, liking YouTube videos, or writing hotel reviews in exchange for monetary rewards.
Watch out for these Task-based Investment Scams on #Telegram!
— Cyber Dost (@Cyberdost) September 24, 2023
Remember to immediately #Dial1930 to report online financial fraud and file complaint of any cybercrime at https://t.co/cr6WZMOi4c#CyberAware #Awareness #CyberSafeIndia #DaughtersDay #I4C #MHA #CyberDost pic.twitter.com/4fzE8NbChQ
On X, Cyber Dost shared a post with the caption “Watch out for these Task-based Investment Scams on #Telegram!” Alongside this, they also released a video that exposed fraudulent activities taking place on Telegram, which included screenshots of these deceptive schemes. They strongly encouraged people to report any instances of financial fraud by dialing 1930 promptly.
Additionally, Cyber Dost stressed that any scheme promising high commissions through task-based activities ultimately turns out to be an investment fraud.
The Dark Side of Social Media: How Investment Scams Flourish
Investment scams flourish on social media for a variety of reasons. To begin with, these platforms grant scammers access to a vast and diverse global audience, consisting of billions of users, enabling them to swiftly target a broad spectrum of potential victims.
Secondly, the cloak of anonymity that social media offers allows scammers to operate incognito, complicating efforts by law enforcement to apprehend them. Furthermore, social media fosters an atmosphere of trust and familiarity, as individuals often lend credence to messages and recommendations originating from their social connections.
Exploiting this trust, scammers either impersonate trusted acquaintances or craft misleading profiles to deceive unsuspecting targets. Finally, the effortless communication facilitated by social media permits scammers to engage directly and discreetly with potential victims, facilitating the process of manipulation and the dissemination of false information.
