Pune Baker Falls Victim To Rs 1.8 Crore Online Trading Scam 

A baker in her 30s from Pune, who had been engaging in stock trading on the side, fell prey to a sophisticated online stock trading scam, losing an astonishing Rs 1.8 crore within just two months. She was enticed by a promise of fivefold returns after clicking on a link from social media and joining a phone messenger group that falsely used the name of a prominent global investment bank.

A complaint has been filed with the Cyber Crime police station in Pune by the bakery owner, who has been involved in stock trading for several years. The report details that she lost over Rs 1.79 crore during May and June of this year after making 36 substantial transactions to fraudulent accounts, believing she was investing in genuine stock trading platforms.

Pimpri police have issued a notification on how to prevent cybercrime which includes following tips- 

 1.Use Strong Passwords 

Use different user ID / password combinations for different accounts and avoid writing them down. Make the passwords more complicated by combining letters, numbers, and special characters (minimum 10 characters in total) and change them on a regular basis. 

2. Secure your computer

•  Activate your firewall-  Firewalls are the first line of cyber defence; they block connections to unknown or bogus sites and will keep out some types of viruses and hackers. 
• Use anti-virus/malware software- Prevent viruses from infecting your computer by installing and regularly updating anti-virus software. 
• Block spyware attacks- Prevent spyware from infiltrating your computer by installing and updating anti-spyware software.

 3. Be Social-Media Savvy 

Make sure your social networking profiles (e.g. Facebook, Twitter, YouTube, MSN, etc.) are set to private. Check your security settings. Be careful what information you post online. Once it is on the Internet, it is there forever!  

4. Secure your Mobile Devices

 Be aware that your mobile device is vulnerable to viruses and hackers. Download applications from trusted sources. 

5. Install the latest operating system updates

 Keep your applications and operating system (e.g. Windows, Mac, Linux) current with the latest system updates. Turn on automatic updates to prevent potential attacks on older software.  

6. Protect your Data

 Use encryption for your most sensitive files such as tax returns or financial records, make regular back-ups of all your important data, and store it in another location. 

7. Secure your wireless network 

Wi-Fi (wireless) networks at home are vulnerable to intrusion if they are not properly secured. Review and modify settings. Public Wifi a.k.a “Hot Spots”, are also vulnerable. Avoid conducting financial or corporate transactions on these networks. 

8. Protect your e- identity–  

Be cautious when giving out personal information such as your name, address, phone number or financial information on the Internet. Make sure that websites are secure (e.g. when making online purchases) or that you’ve enabled privacy settings (e.g. when accessing/using social networking sites). 

9. Avoid being scammed

 Always think before you click on a link or file of unknown origin. Don’t feel pressured by any emails. Check the source of the message. When in doubt, verify the source. Never reply to emails that ask you to verify your information or confirm your user ID or password.

 10. Call the right person for help

 Don’t panic! If you are a victim, if you encounter illegal Internet content (e.g. child exploitation) or if you suspect a computer crime, identity theft or a commercial scam, report this to your local Police Station or Cyber Cell.