Dikhyaa Mohanty 
In an effort to combat the many online Ponzi (MLM Schemes), the EOW Odisha has also frozen around Rs. 75 lakh in 14 different bank accounts located throughout India.
Previously, EOW has blocked Rs.1.22 billion in similar programs and apps. According to the EOW, there are several unlawful websites and apps that deceive users by promising to quadruple their money in a matter of days or months but then shut down after a short period of time.
These bank accounts were associated with applications such as Dice, Quickwrummy, Fly Aviator, Weonlinepro Three, MVP trader, Ft11, UNO, ForexDana, Live 22 Cash, Aviator X, City5, Homer Alexander, etc. These apps had 1.56 billion downloads all together. This relates to a registered EOW case from this year.
It was discovered that these con artists are employing photoshopped images of prominent celebrities and social media influencers in the most recent incidents. To deceive/impress people on various social media platforms like Instagram, YouTube, etc., they also utilize the emblem of a large firm like Tata.
Earlier, it was discovered that an app called “Join trade- Financial growth” was deceiving the public by utilizing modified images of prominent Bollywood celebrities like Akshay Kumar and Manish Paul. Additionally, it was discovered that some so-called social media influencers advertise these apps and schemes on their pages. It was discovered that several TV personalities and minor celebrities were praising these social media influencers and their tips for generating quick money through
Most of the victims are from lower middle class including many students wishing to become rich in a very short span of time using these shortcuts. It came to surface that the amount can only be deposited through UPI’ID’s reflected in the APP which keeps changing constantly each minute and such ID’s were linked to savings Bank and current accounts maintained in the name of many shell companies / firms and individual persons.
The total transactions in the above suspected bank accounts are of more than 1000 Crores. However it is suspected that these accounts/ networking are also used in other cyber/financial crimes related to Online Ponzi Schemes, Illegal digital Loan Apps, Courier Scam, Sextortion, Work from home scam, YouTube liking scam, Rating scam etc.
It has been noticed that these money are routed through very complex multi layering of various mule accounts and finally money is transferred out of India using Crypto trade. Most of these scams are operated from or have links in Dubai, UAE.
Public Advisory
1. Please don’t use these illegal earning Apps/ scheme. These Apps are created and operated by Cyber-Financial scammers. Even if you initially get some money back ultimately you will lose huge money.
2. Please do not refer/ forward the links to your friend/ relatives. You might get some referral bonus but in the end, both you and your friends will lose huge amount of money.
3. It is quite possible that this money is being used in other cyber-crime and anti-national activities. Please stay away from such Apps/ schemes.
4. Never ever allow your bank accounts to be used/ controlled by others.
Advisory to Social media influencers
Don’t promote such illegal earning Apps/ schemes directly or indirectly.
Advisory to Celebrities
Don’t use your influence to promote such Apps/ schemes by recommending people to such social media influencers who promotes these illegal Apps/ schemes.
