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Scam explainer
Investment and trading scam also called Stock market WhatsApp group scam, Fake trading app scam, Pig-butchering, IPO/institutional account scam
Fake 'stock tips' groups and trading apps show invented profits, take ever-larger deposits and then block withdrawals. It is India's costliest cyber fraud by value.
How it works
- An ad (sometimes a deepfake video of a minister or celebrity), a stranger's message or a new online friend points you to a WhatsApp or Telegram 'stock tips' or 'IPO' group.
- A 'professor' or 'mentor' shares tips that seem to work, and other members post screenshots of big profits.
- You are asked to install an app or open a website for an 'institutional' or 'VIP' account, and to deposit money into bank accounts that keep changing.
- The app shows rising profits, and a small early withdrawal may even succeed to build trust.
- When you try to withdraw a larger sum, you are told to pay 'tax', 'fees' or an 'unlock' charge first, and the demands never end.
Red flags
- Guaranteed or unusually high returns in days or weeks.
- Trading apps or links shared in chat groups rather than a SEBI-registered broker you chose yourself.
- Deposits go to individual or unrelated company bank accounts.
- A minister, business leader or celebrity 'endorses' the scheme in a video ad.
- You must pay a fee or tax before you can withdraw your own money.
What to do
- Do not send more money to 'unlock' a withdrawal; it will not be released.
- Check any broker or adviser on SEBI's list of registered intermediaries before investing.
- Call 1930 and file a complaint on cybercrime.gov.in with every UPI ID, account number and transaction reference.
- Tell your bank so it can alert the receiving banks.
- Report the WhatsApp or Telegram number through Chakshu on Sanchar Saathi, and leave the group.
- Beware of 'recovery agents' who later promise to get your money back for a fee.
Step-by-step guideInvited to a stock tips WhatsApp group? How to check it before you send a rupee
The numbers
Deepfake ads are the newest lure: the PIB Fact Check Unit flagged AI-generated videos of the Finance Minister promoting investment schemes in January and April 2026 (News On AIR).
- Investment frauds caused 76% of the money Indians lost to cyber fraud in 2025 and made up 35% of complaints, according to MHA data reported by ThePrint. — ThePrint — Cybercrime saw 24% spike in 2025. Indians lost Rs 22,495 crore, mainly in investment scams (21 Feb 2026)
- An I4C analysis reported in October 2025 found over 30,000 investment-scam victims in major cities in six months, with losses above ₹1,500 crore. — Business Today — Over 30,000 Indians duped in investment scams; Bengaluru, Delhi-NCR, Hyderabad worst hit (25 Oct 2025)
- Citizen reports of investment and trading fraud communications on Chakshu rose from 165 in 2024 to 29,140 in 2025, DoT told the Rajya Sabha. — PIB (DoT) — Chakshu facility of Sanchar Saathi: suspected fraud communications reported, Rajya Sabha reply (5 Feb 2026)
Desk coverage
- Deepfake investment ads in India: what they are, who has been faked, and how to spot one
- Is this a scam? How to check a phone number, link, app, adviser or UPI ID in India
- Invited to a stock tips WhatsApp group? How to check it before you send a rupee
- Indian cybercrime by the numbers: what NCRP, 1930 and the RBI's 2025-26 report actually show
Sources
- ThePrint — Cybercrime saw 24% spike in 2025. Indians lost Rs 22,495 crore, mainly in investment scams (21 Feb 2026)
- Business Today — Over 30,000 Indians duped in investment scams; Bengaluru, Delhi-NCR, Hyderabad worst hit (25 Oct 2025)
- Business Standard — Fake profits to human trafficking: the WhatsApp stock market scam decoded (9 Sep 2024)
- News On AIR — Government debunks fake video featuring FM Nirmala Sitharaman's investment claims (9 Apr 2026)