Kerala NRI defrauded of ₹2.11 crore via fake forex trading platform

A Kerala NRI residing in the USA has lost ₹2,11,35,077 by investing in a fake forex trading platform, police stated as per a report by India Today. The 41-year-old individual is a native of Kunnathunadu and currently resides in the US.

According to the police, the victim received a link to an online website named 'Handtec Markets', after which he was added to a Telegram group. The accused sent another link claiming it belonged to 'Handtec Markets Global LTD', but that link led him to a fake forex trading website. The fraudsters provided guidance via Telegram and instructed him to log in using the details provided by the accused.

The victim had been transferring money from his bank account to various accounts specified by the accused since October 2025. When he recently attempted to withdraw his capital and the promised profits, he did not receive the money, and the fraud came to light. Based on a complaint filed by the victim's friend, Ernakulam Rural Cyber Crime Police registered a case against unknown persons on Wednesday.

Police stated that due to the delay in reporting, it is becoming difficult to trace and freeze the bank accounts of the recipients. Currently, the police are attempting to identify and freeze the bank accounts into which the funds were transferred.

NRI (Non-Resident Indian) refers to those Indians who reside abroad for work or other reasons. While living abroad, they maintain economic ties with India and mostly send money to the country through foreign exchange.