Cellular Phone Apps Used To Lure Victims Into Fraud
In March 2025, Rutik Nikam, a 23-year-old from Maharashtra, was arrested by Goa police for his involvement in a stock market scam that defrauded an Old Goa resident. The victim was lured into investing through the FYERS Trading App and added to a WhatsApp group promising high returns. Nikam manipulated the victim into transferring funds to multiple bank accounts under false pretenses. Investigations revealed that Nikam’s account was linked to 22 other financial fraud cases across tje country. The police urged citizens to remain cautious while investing online and report suspicious activities.