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ED files charge sheet against cyber fraudsters as I4C issues new advisory

Business Standard LogoBusiness Standard3d ago

ED files charge sheet against cyber fraudsters as I4C issues new advisory - Business Standard

Quick Summary:

The Enforcement Directorate (ED) issued a statement on Saturday, saying it filed a prosecution complaint before a special Prevention of Money Laundering Act (PMLA) court in Bengaluru last month against eight accused who allegedly "lured" common people through "fake" IPO allotments and stock market investments through fraudulent apps.

Close on the heels of Prime Minister Narendra Modi urging people to guard against the menace of 'digital' arrests, probe agencies said they are taking action against this category of cyber crime with the ED filing a charge sheet in one such case and the I4C issuing a fresh advisory.

"Probe found that a huge network of cyber scams in India, involving fake stock market investments and digital arrest schemes executed primarily through social media platforms like Facebook, Instagram, WhatsApp, and Telegram.


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Category: BusinessFinance

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Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-03 @ 12:20:01 (3 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 879 words

Reading Time: 5 minutes read

Sentences: 23 lines

Sentence Length: 39 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23375234

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