The Hindu reported on 12 November 2026 that the Ernakulam Rural Cyber Crime Police registered an FIR on 11 November after a 41-year-old from Kochi who works in Dubai allegedly lost more than ₹2.11 crore in an online f…
Source: thehindu.com · published
The Hindu reported on 12 November 2026 that the Ernakulam Rural Cyber Crime Police registered an FIR on 11 November after a Kochi native working in Dubai allegedly lost more than ₹2.11 crore in an online forex and stock trading scam. According to the report, an unidentified gang posed as associates of a stock market intermediary. In October the victim was drawn in by an online advert for a company called 'Handtec Markets', which promised big returns from a special trading strategy. He was added to a Telegram group, sent to an allegedly fake forex trading platform with a user ID and password, and made several transfers to bank accounts shared through a Telegram channel linked to an Indian mobile number. He was then unable to withdraw his displayed 'profits'. The case was registered under BNS Section 318(4) and IT Act Section 66(D). The Hindu does not link the scheme to any registered firm; if a genuine company uses a similar name, the operators may have misused it.
Unlicensed investment and 'AI trading' sites usually start with a polished sign-up form, a promised high or guaranteed return, and pressure to deposit quickly, often after a call or a message on Telegram. Early small withdrawals may be paid so that you send more. Clone firms copy the name, and sometimes the address or phone number, of a real authorised business. Check the firm on your national regulator's register, and type the official website yourself rather than following a link. A regulator warning or a block order is not a finding that a particular customer lost money; it is a notice that the site is not authorised to offer those services.
Source: https://x.com/the_hindu/status/2120830211596210305 (@the_hindu, Nov 12, 2026, 5:45 AM ET); https://www.thehindu.com/news/national/kerala/dubai-based-keralite-loses-211-crore-in-alleged-forex-trading-scam-run-through-telegram/article71692748.ece (The Hindu, 12 Nov 2026)
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