Our Youth Getting Trapped In Online Trading Fraud And Cybercrime Due To Job Crisis In India.

Online trading fraud and cybercrime due to Job Crisis in India.

Trading Temptations: The Pitfalls of Easy Money Schemes in the Digital Age.

You must have heard about trading nowadays from your own home, relatives, or friends. Anyone who comes will say, "Just give me 10 thousand, and I'll return the money to you or earn and return it to you within 2-3 days through trading." Or sometimes a jobless boy gets into a job by tomorrow where talks of making him a millionaire in a month are made, and he just has to give some money. After that, the job is guaranteed. And some cases have come up where neither the family nor the job holder knows that what he is doing is a crime. Especially people working in BPOs.

Unveiling the Online trading fraud Traps Ensnaring Our Youth:

A CriticalExamination of Shortcuts to Success.

These three things that I've mentioned above are trapping our youth. Especially the youth of our country is coming at a rapid pace. This article is very important and it is an eye-opener for those who think that there is a shortcut to making money, that money can be earned without hard work, without skills. And if we are not careful, then the story of our homes will also come on TV in a few days in the same way.

Unfulfilled Promises and Unemployment:

The Rising Job Crisis of Talent Mismanagement in Modi's India.

Modi ji seems to have forgotten his promise of providing 20 million jobs every year, but unknowingly, the Modi government has made an even bigger mistake. And that mistake is the joblessness, the unemployment of educated, talented youth. And when talent is not utilized in the right place, it gets used in the wrong place.

The great philosopher Aristotle also said, "Poverty is the parent of revolution and crime."

Poverty is the root of revolutions and crimes. And fresh data says that almost every other youth in our country, aged 20-24, is unemployed. And such talented youth of our country seems to have started showcasing their talent in the wrong places. The era has passed when people were stopped on the road and robbed. Now, educated unemployed people are being tricked in new ways to loot them.

Unveiling Reality: Addressing Unemployment and Crime Concerns Under Current Leadership.

Before starting the articles, let me make it clear that I am not supporting crime in any way. I'm just alerting people and making them aware so that they can protect themselves and their families. Also, the government, which promised to provide 20 million jobs every year, needs to wake up. And the public asks, "Sir, it's been 10 years, where are the 200 million jobs?" Let's see what Modi's unemployed are doing.

Unveiling the Online Trading Fraud Epidemic:

Exposing the Rise of Deceptive Practices and False Promises.

The biggest fraud going on is trading. In our country, in 2019, there were only 700,000 traders, but by 2023, this country has seen 4.3 million traders. And the number of people teaching trading has also increased drastically. There are even cases where... those who are running at a loss are teaching trading on YouTube to cover their losses. There are more fake cases than genuine ones. Let's find out how this fraud is carried out.

Mastering Market Dynamics: The Art of Strategic Investing in Shares

So, trading means buying shares of a company, where shares represent a small portion of that company. If the company incurs losses, you will suffer losses, and if the company makes profits, you will also make profits. But this requires knowledge and experience. For example, when the coronavirus pandemic hit, those who bought shares of mask or sanitizer companies as soon as the news came out became rich, but those who bought shares of movie theater companies incurred losses. So, in essence, it can be said that predicting the impact of news and events on the market, investing in businesses that may currently be in a loss but will yield profits in the future is what trading is all about. Investing a small amount of money to buy shares and selling them for a large profit.

The Illusion of Wealth:

The Harsh Reality of Stock Market Investments.

Dreams are shown, brother, if they hadn't spent their money on these shares instead of buying bikes, they would have been traveling in a luxury car today. But they don't tell you that 90% of the people who invested their bike money in this are now unable to afford even a bicycle. Therefore, in reality, only those people who have a lot of experience in the stock market and at the same time have a lot of knowledge can profit from it. Thus, young individuals who are attracted to quick money often end up disappointed when they choose this option. Along with losing money, they also lose the funds they borrowed from their family or friends.

Navigating the Complex Path of Stock Market Success:

Insights on Avoiding Pitfalls and False Promises.

Just watching a few YouTube videos or creating a demate account for practice doesn't bring much benefit. Some people even take courses to understand the basics, but. the path is very difficult, how can I traverse it? The stock market is very complex. You have to do it absolutely right, but to understand it, you need industry experience. You need time, you need capital, because initially, you might get some success by chance, you might even make a profit. But if you look at the facts, you'll understand the truth. Because 80% of people quit trading within 2 years. But their decision comes so late that by then, they've lost a considerable amount of money in the stock market. That is, they didn't have much in the beginning, and even after wasting two years, they're left with nothing in their hands, rather, they're worse off. And on top of that, those guys who show dreams of getting rich through trading.

Unveiling the Rise of 'Finfluencers':

The Controversial World of Trading Tips, Courses, and Chain Selling

The emergence of a trading industry has given rise to "finfluencers" who offer trading advice and insights on social media. While some provide genuine knowledge, others who may not be successful traders themselves create courses and sell them to aspiring traders. They build credibility through flashy displays of wealth and success, even if they are not profitable. These influencers then sell courses promising quick success in trading, targeting those seeking instant gains. If buyers fail to benefit, they are encouraged to sell the course to others in a pyramid-like scheme. This model, akin to a "prey looking for another prey," exploits the desire for quick profits. Finfluencers also use deceptive tactics such as "Pump and Dump," where they inflate stock prices before selling for profit, and creating hype to manipulate stock prices. The mention of Vivek Bindra indicates his involvement in a similar scheme of selling courses.

Fake Financial Influencers and the Rise of Cybercrime in India

There are many other risks associated with the stock market that nobody talks about, but my advice would be to arm yourself with knowledge before stepping into the arena. Watching the actions of these finfluencers. SEBI had to take some steps. In which the chairman, Madhabi Puri, considered it a fraud. Now, only registered investment advisors and research analysts can give advice related to the market after obtaining a license. But still, people are buying courses within closed groups and giving advice, selling dreams, and our youth are becoming prey.

The Lure of Quick Cash: A Breeding Ground for Cybercrime

Now, at the root of all this is the same 15 lakh promise that Mr. Modi made. If he had fulfilled it, perhaps we wouldn't have to tolerate these fake finfluencers. Although not everyone is like this, those who are genuine deserve respect, but others should not loot the public; they should demand from Mr. Modi. Because it's not that there is no money in the country; there is plenty of money in the country, but one percent of the people are sitting on 22 percent of the wealth. They are spending lavishly on weddings but dare not give a little to an anchor of their own company, like News18. World Bank data says that under Mr. Modi's rule, people from Bangladesh, Bhutan, and Pakistan have not faced as much humiliation as the youth in India have.

Cybercrime is prevalent.

The Deceptive World of Fake Companies: A Tale of Exploitation and Fraud.

Let's understand this with an example. Some people create a fake company. They hire unemployed but talented individuals. They offer them jobs and then tell them to sell products. They are told that if they sell, they will receive not only a salary but also a commission. These innocent people get trapped. They think they are working in an international BPO. But listen to how they are being defrauded. So let's say you get a job in a BPO. You are then told that there is a new company called stockslelo.com, and you need to sell its shares to people. You'll also get a commission along with your salary. You are given full training. You convince people that your new company provides advice and tips to investors on which stocks to buy. The company's track record shows that it has provided returns of up to 18% on a monthly basis to its clients. After hearing about such returns, many people start believing in your words. For those who are still hesitant, you persuade them in various ways.

You claim that your company has industry experts with 20 years of experience in the stock market who analyze stocks for you before recommending them. You offer them an extra ₹2,000 worth of shares if they purchase ₹10,000 worth of stocks. This offer is for a limited time and available to only a few people. Driven by greed, people click on the link you send them and invest money. You think your job is done, and you're happy to receive your incentive. But the person on the other end becomes a victim of fraud. Later, they realize that such a company doesn't even exist, but you remain unaware of this.

Deceptive Promises:

Unveiling Scams in India's Skill Development and Investment Landscape.

Similarly, many scams are running, where people are asked to sell courses promising them a job from the Indian government's Skill India program, but they also end up being defrauded. Two people from Gujarat were running a scam of this kind at a national level, representing a reputed trading company and convincing people to invest in it by promising returns. According to a Times of India article, they had conducted a scam of up to 28 crores across India. But this was a fraud related to investment. Another smart fraud is one where initially, the system shows daily profits in the account of the person being approached. After seeing this, their trust in the company deepens. However, one day when they try to withdraw their money from the company, the company starts demanding 13 lakh rupees from them. That's when they realize they were being scammed.

Escalating Cybercrime: A Looming Threat in Modern Society.

From January 1, 2020, to December 7, 2022, 16 lakh cases have been reported of cybercrime. And the cases are doubling in speed every year.

According to the National Cybercrime Reporting Portal (NCRP), in 2021, 4 lakh 52 thousand cases were reported, but in the very next year, 2022, 9 lakh 66 thousand cases were registered, meaning more than double. From April 2021 to now, cybercriminals have taken away Rs 10,300 crore from this country. And out of every 1 lakh people, 129 people are reporting cybercrime. This means that in many cases, people don't even know where to report. In such a situation, you can only estimate how big the problem is. And it has reached you. According to the 2022 Crime Report of NCRB, out of 65,000 cybercrime cases, 43,000 were fraud cases, while in 2021, out of 55,000 cybercrime cases, only 31,000 were fraud cases. So, what happened that the fraud cases increased by 12,000 in just one year?

Cybercrimes committed solely for earning money are categorized as fraud. This makes it clear that as unemployment increases in our country, so does crime, whether it is any country in the world.

Unveiling Cybercrime: A Comparative Analysis of Nigeria and India

To understand this more deeply, let's move towards a country named Nigeria. Dushyant Kumar's couplet goes:

"Where it was decided that every home would have a lamp, and where it wasn't feasible, it wasn't meant for the city."

Nigeria is a country located in the African continent, which is one of the top countries in the world in terms of natural resources, with immense potential to become a powerful country in the African continent.

Nigeria is also the most populous country in the African continent, with a total population of 210 million. What's even more surprising is that out of these 210 million populations, 150 million are youth. If all these people start working together, then Nigeria can easily become a well-known country in the African continent.

However, despite all this, poverty prevails everywhere in the country. Youth do not get jobs, there are no opportunities. The unemployment rate is increasing year by year. And as unemployment increases, so does cybercrime. The youth of Nigeria get involved in cybercrime from a young age. The cybercriminals there are so advanced that they operate their networks on the dark web. They sell ideas and systems to hackers from all over the world. Most of the YouTube channels that get hacked are managed by someone from Nigeria, operating from their laptop. This level of hacking demonstrates their high level of intelligence. But the most important thing I want to tell you all is that people in our country are also following the path of Nigeria.

You must have seen the Jamtara series, but similarly, there are some areas in this country that have become infamous for cybercrime. 80 percent of cybercrimes in the country originate from these places.

Here’s a breakdown of the percentages:

Bharatpur: 18 percent

Mathura: 12 percent

Nuh: 11 percent

Jamtara: 9.60 percent

Gurugram: 8.10 percent

Alwar: 5.10 percent

Bokaro: 2.40 percent

Karmatand: 2.40 percent

Giridih: 2.30 percent

As unemployment increases, criminals are also increasing, but this does not mean that if someone is unemployed, they should turn to crime. Every day, people are being caught like this, and they face consequences. But the government needs to understand that just punishing people and putting them in jail will not solve the problem.

Unemployment, Fraud, and the Decline of Trust:

The Impact of BPO Scams on Jobs and Reputation.

It must be acknowledged that there is unemployment, and efforts must be made to provide people with jobs. Just last year in October, there was news when the police raided a center and arrested seven people, who, according to the police, were involved in more than 167 cases of fraud. But the most surprising thing was that all seven people who were arrested, if you look at their age, you will find that they were all between 20 and 30 years old. And wait, there's more!

Alone in 2020, more than 4500 Americans were defrauded of up to 14 million dollars by Indian call center scammers. Because of this, a report from 2022 shows that Americans have suffered a loss of 10 billion dollars due to call scams, mainly perpetrated by individuals of Indian origin. Because of this, the country’s reputation is deteriorating, and even the genuine individuals in the BPO industry who sell legitimate products or services to customers are suffering losses. Because people are losing trust in them, and clients are not giving them work. This is affecting the jobs of those already in the industry. Usually, they are not respected much, but due to such news and instances, people lose trust in them, causing losses to their companies.

And here, I want to clarify that my article targets only those BPOs involved in selling illegitimate products or services to customers, not those genuinely working.

If you just search on Google for BPO scams or cybercrime in India, you will find so many results, and in all of them, you will notice a common theme that most people involved in these scams are young people.

Also Read: More Than 100 Startups Run By Children, Youth Unemployment in India, Job Anxiety.

What do we understand from this?

Well, it means that if we somehow end this job crisis, we can prevent the youth from being misled. So, it is possible. However, the truth today is that the ruling party is not willing to accept that there is a job shortage in the country. But you can estimate the reality of the Job Crisis from the fact that a law aspirant is applying for a job as a driver. A graduate is driving a rickshaw today. And you may have heard the famous incident where a Ph.D. holder was applying for a clerk's job . And with the passage of time, this crisis in our country can worsen even more, and its impact on society, in fact, can be very detrimental to your life. Rama has already come, the temple has been built, now if Modi Ji wins again, then Ram Rajya will also come. Anyone who talks about jobs, education, health will be called anti-religion and anti-national. Just speak ill of Muslims on social media and be happy. So, friends, if I receive your love by signup and sharing, I will bring more stories like this to you.

Conclusion

In summary, the surge in online trading fraud, exacerbated by job scarcity, is ensnaring India's youth in a web of fraud and cybercrime. Modi's unfulfilled job promises to exacerbate the situation, fueling talent mismanagement and unemployment, while the rise of 'finfluencers' adds to the allure of quick riches. The consequences are dire, with cybercrime cases escalating rapidly, mirroring the youth unemployment rate. Urgent action is needed to address the root causes and prevent further exploitation of vulnerable youth.

So, I believe I’ve given you all the information. I hope you gain some information’s. If you did, don’t forget to like and share it. Stay tuned to our blog for regular updates and insights.

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