India, July 24 -- A 43-year-old Noida woman was allegedly duped of Rs.53 lakh by cyber criminals in a stock market trading fraud, police said, adding that a case was registered on Wednesday at the Cybercrime Branch police station.

"The woman, a resident of Sector 2, Noida alleged that she came in contact with a woman on social media on April 4 who informed her about the scope of earning profits from stock trading investments. She subsequently shared a weblink with her for downloading an app to start trading," said a police officer, requesting anonymity.

The victim woman ended up transferring Rs.53 lakh in multiple transactions through that app between April 19 and June 26 to buy initial public offerings (IPOs), the officer added.

Later...