Cyber Fraud NRI loses Rs 2.11 cr in fake forex trading scam in Keralam

Kochi, Nov 12 (PTI) An NRI from Kunnathunadu here lost over Rs 2.11 crore in an online forex trading fraud after being lured into investing through a fake trading platform, police said on Thursday.

The Ernakulam Rural Cyber Crime Police registered a case on Wednesday based on a complaint filed by a friend of the NRI, who is currently residing in the US.

According to police, the 41-year-old NRI came across a website link for 'Handtec Markets' on the internet, which led to him being added to a Telegram group.

The accused later shared another link claiming to be that of 'Handtec Markets Global LTD', which redirected him to a fake forex trading website, police said.

The victim was allegedly guided by the fraudsters via Telegram and asked to log in using credentials they provided.

He subsequently transferred money from his bank accounts to various accounts specified by the accused on several occasions since October 2025, police said.

A total of Rs 2,11,35,077 was allegedly invested in the fake trading platform.

The scam came to light when the NRI recently attempted to withdraw the money.

However, neither the principal amount nor any promised profits were returned, they said.

The case has been registered under relevant sections of the Bharatiya Nyaya Sanhita and the Information Technology Act against unidentified persons.

Police said there was a delay in reporting the cyber fraud.

However, they are tracking the bank accounts to which the money was transferred, and efforts are underway to freeze them at the earliest.

(This story has not been edited by THE WEEK and is auto-generated from PTI)