Gurugram cyber cell warns users against 10 applications

Tribune News Service

Sumedha Sharma

Gurugram, April 21

Amidst the ongoing craze for app-aided stock investment, the Gurugram cyber cell has issued a warning against 10 apps, terming them fake.

Dubious apps

• Ve pro
• Anglebg
• Anglone
• MGBWNFMI
• Vikinginvest
• Khakhla
• Levelk
• Upstok
• Wells Capital Trade
• DNP Agency

The cyber cell has highlighted that these apps are being used to cheat people on the pretext of investing in the stock market. It is further alleged that the police have received hundreds of complaints against these apps, which, according to complaints, lured them with assured profits.

According to the police, in a bid to win trust of the victims, fraudsters behind these apps have also made fake demat accounts, defined as dematerialised accounts that hold financial securities digitally and are used to trade shares in the stock market.

A police official said, “Everybody today wants to invest in stocks and apps are the best and easiest way to do so.”

“Mapping the success, popularity and people’s trust on genuine apps, many fake applications have been created. People behind such fake apps have even made fake demat accounts to gain users’ trust. We have got numerous complaints and have identified 10 apps that are being used in cyber frauds so far,” said the police.

The suspected apps include Ve pro, Anglebg, Anglone, MGBWNFMI, Vikinginvest, Khakhla, Levelk, Upstok, Wells Capital Trade and DNP Agency.

The police investigation has reportedly revealed that these apps are also available on Google Play Store and are easily downloadable on Android smartphones as well as iPhones.

Fraudsters are also using AI to lure and befool victims through these apps. The advisory has warned investors to be wary of apps promising high returns and verify the credentials before using any online platforms.

“You need to watch out for investment applications that promise unrealistically high returns as such apps are likely to be fake and assist frauds. Even exceptionally low risk investments should be treaded cautiously. The investor should check credentials of the firm behind an app and its registration before downloading any app,” read the advisory.

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