In short
Ads, agents or online platforms offer forex trading through unauthorized electronic trading platforms The objective is typically to lose money through fraudulent or unauthorized forex trading schemes.
What it is
The scheme may promise disproportionate/exorbitant returns and use social media, search, OTT or gaming channels. The victim is then pushed to open an account and remit/deposit margin or investment money to the unauthorized platform.
How it starts
Ads, agents or online platforms offer forex trading through unauthorized electronic trading platforms.
What they tell you
The scheme may promise disproportionate/exorbitant returns and use social media, search, OTT or gaming channels
What they want you to do
Open an account and remit/deposit margin or investment money to the unauthorized platform
How you lose money
lose money through fraudulent or unauthorized forex trading schemes
What happens next
After the first successful step, the fraudster may demand more money/information, deepen account or device access, or disappear.
Warning signs
greed | FOMO | authority | social proof | unauthorized ETP | online advertising
Where this is documented
India — officially documented by an Indian authority/regulator
How to avoid it
Verify the intermediary and app through SEBI/RBI-authorized channels; reject guaranteed-return claims and pressure to move money to personal or unrelated accounts.
If it already happened
Contact the bank/payment provider immediately if money moved; report financial cyber fraud promptly via 1930 and cybercrime.gov.in; preserve messages, transaction IDs, phone numbers and URLs.