DBS Impersonation Scam Costs Retired Engineer ₹12.8 Million Through WhatsApp Group and Bogus App

In India, a retired public‑sector engineer has lost more than ₹12.8 million (about $133,000) after being duped by fraudsters operating a fake cryptocurrency trading platform. Police said the victim was lured through WhatsApp, where he was added to a group called “531 DBS Stock Profit Growth Wealth Group”.

The group’s administrator, introducing himself as “Professor Rajat Verma” alongside an alleged analyst “Meena Bhatt,” directed group members to download a bogus application from the domain www.ggtkss.cc. Victims were told the app would provide access to exclusive block deals and high‑value IPO allotments.

The domain is now inaccessible and flagged as ‘not secure.’ BrokersView’s screenshot shows it is a counterfeit site impersonating DBS Bank, mirroring the WhatsApp group’s name. This highlights a serious investment scam built on deception and impersonation.

To build trust, the engineer was initially allowed to withdraw ₹5,000 after depositing ₹100,000. Over the following weeks, he was persuaded to invest larger sums. Between November and early December, he transferred about ₹12 million through multiple bank accounts and UPI transactions.

Trouble began when he attempted to withdraw his balance. The scammers demanded a 20% commission before releasing the funds, and when he refused, they froze his account entirely.

Recent financial scams in India include a ₹4.26 million trading fraud exposing familiar tactics of fake apps and forged profits, and the case of fraudulent firm Amansa Capital, which falsely claimed SEBI regulation to steal ₹1.37 million.

BrokersView Reminds You

Fraudsters often exploit WhatsApp groups, fake domains, and bogus trading apps to lure victims with promises of exclusive trading tips and extraordinary profits. Investors are urged to verify platforms through official regulators, avoid unsolicited offers, and report immediately if suspicious activity occurs.