New Delhi, May 19 -- A 71-year-old resident of Harihar in Karnataka lost Rs.75.4 lakh after falling victim to a 'WhatsApp investment scam', highlighting how fraudsters are utilising messaging applications, fake trading platforms, victim trust and psychological pressure to trap innocent people, as detailed in a recent report by The Times of India.

This scam was the result of a host of factors, including promises of high returns, manipulation, and blocked withdrawals once large sums were deposited.

The elderly victim was initially contacted by the fraudsters through WhatsApp. They posed as investment advisors. As per the First Information Report (FIR), the fraudsters convinced him to invest in what they claimed was 'SBI Securities Limited...