Beware of the forex and stock trading mobile applications you download and invest in. As awareness is slowly catching up about fake investment scams that promise huge returns and the FedEx courier scam, cyber fraudsters have innovated and have now floated several fake forex and stock trading apps to cheat gullible investors.
“There have been a bunch of cases reported recently, where people have lost money investing in fake stock and forex trading apps. Once a person invests through this app, it continues to show the investment growing with very good returns lulling the instincts of the investor. But when they try to withdraw the money, the app operators never give back the money. In reality, the money invested is siphoned off and not even invested anywhere,” a senior police official said.
