The Cyberabad Police have warned citizens to be cautious of fraudsters attracting with Ponzi schemes. Companies attract customers offering high returns, gifts and tour packages for deposits and then turn off their boards.
“Citizens are requested not to fall prey to the dubious schemes with offers of easy and quick money. Please do not deposit money into such schemes where they promise high rate of returns,” said V.C.Sajjanar, Cyberabad Police Commissioner, in an advisory.
He urged people to not entertain any activity involving the promise of easy and quick money.
The Cyberabad shared observations that women in particular were being targeted most by these fraud companies who sell their products and services with all false claims and blatant lies.
“When customers get lured and fall prey to such promises, the companies exploit them in many ways, ransacking them and sometimes leading into depression,” officials said.
People were cautioned that these companies approach customers with various great looking schemes involving their kith and kin and ultimately exploit their social relations.
“Citizens are advised to study the Reserve Bank of India guidelines before depositing amounts into any such schemes,” police said.