Instagram Ad Scam: Serum Institute Official Duped of ₹23 Lakhs in Pune

• A Deputy Manager from Serum Institute of India was defrauded of over ₹23 lakh by cybercriminals.
• The victim was lured through an Instagram advertisement promising high returns on share market investments.
• Fraudsters used a WhatsApp group and a fake mobile application to show inflated profits to the victim.
• When the victim attempted to withdraw funds, the scammers demanded a 12% tax on the fake profit.
• A case has been registered at Hadapsar Police Station, and an investigation into the cyber fraud is ongoing.

Why It Matters: Be wary of online investment ads; even professionals fall victim to cyber fraud.