Crackdown on CAPITALIX Investment Scam in Kerala
Kerala police are alerting the public about a fake investment scam exploiting the name of CAPITALIX, a known stock trading brand. Fraudsters use social media and AI to attract victims who are coaxed into investing in fake platforms. Prompt reporting can help recover funds.
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The Kerala police have issued a public warning regarding an investment scam operating under the name of CAPITALIX, a reputable stock trading brand. Fraudsters are using fake accounts and have been deceiving people on social media with promises of high returns.
According to police reports, these criminals are employing artificial intelligence to fabricate videos featuring well-known business figures, adding an air of authenticity to their fraudulent schemes. Victims are then added to WhatsApp or Telegram groups, seemingly to learn trading, and are persuaded to use the CAPITALIX app from the Google Play Store, accessing fake websites like capitalix.in and trade.capitalix.in.
The scam escalates as victims, initially allowed to withdraw small amounts to build trust, are convinced to invest larger sums. When they attempt to sell, they find themselves blocked and are coerced into providing more money. Authorities highlight the urgency of immediate reporting via 1930 or the national cybercrime portal to enhance the likelihood of fund recovery.
(With inputs from agencies.)
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