A new dimension of fraud: People lose money by investing in apps

People in the country are getting trapped by the glittering offer of investing in apps, and becoming the victim of fraud. For example, in Rajshahi, with a view to becoming millionaire, thousands of people got trapped after investing in different apps. People of the city and some upazilas invested in various local and international apps with a hope to get rich quickly. However, they lost their money by becoming victim of fraudsters.

Nevertheless, the local administration didn’t take any action against people involved in promoting the apps. Hence, a vested group is conducting promotional activities for investing in those foreign apps by opening local office.

According to the investigation, ads of different apps are seen in news feed on Facebook profile. Among those, an app called MTFE is currently at the top of popularity in Rajshahi. Some young people are spreading the dream of becoming millionaires quickly by investing money in this app and spreading it to people by forming different teams. MTFE is sitting with app office in Lakshmipur city. It is managed by a young man named Sabuj from Rajpara police station area. In his words, many people have invested millions of Taka by stepping into the trap of the app. Another young man promoting the MTFE app is Rubel from Durgapur, an employee of a shop in Rajshahi RDA Market. He is encouraging hundreds of people from Durgapur along with Rajshahi to invest money in MTFE app.

Talking to several youths who have invested in the MTFE app, it has been revealed that some of their acquaintances lured them by posing as representatives of the app. “If you invest money in the app, you will earn Tk 2 to 5 thousand daily,”- they promised. An account is opened for them by giving money through it. Later that app has to be open for 30 minutes throughout the day. There some points are credited as dollars to their respective accounts. Sometimes they can withdraw money. Rubel, who promotes the MTFE app, said, "If someone invests money in the app through me, some commission is credited to my account. If you invest more money, you will get more commission. If I can invest 100 people in this way, then I will get office and my position will be CO. This is how someone suddenly becomes the owner of lakhs of money. But he also said that he will not take responsibility if the app is closed.

Recently, some youths including Sabuj, Liton, Ekhlas of Dashmari area of Rajshahi invested about Tk 20 lakh in an app named Ultima Willet, according to a friend of the area named Munayem. They received Tk 10 to 20 thousand twice. Suddenly the app closed. On June 26, Sabuj Ali filed a complaint under the Digital Security Act at Boalia Police Station and arrested six people for their involvement with the app, who’re are currently in jail. Even before this, people have been cheated by investing Tk of crores in an app called Movie App in Rajshahi. Manik, a young man, opened the office of Movie App in Shiroil of Rajshahi city. Hundreds of people from Prematali area of Godagari were cheated by investing money in that app, but suddenly it was stopped. A case was filed under the Digital Security Act at RMP Chandrima Police Station and some people were arrested.

Rajshahi Metropolitan Police spokesperson Rafiqul Alam said these apps are not approved in any country. The country's money is being siphoned off abroad through these apps which might be closed at any time. If anyone complains about these things being cheated, then action will be taken quickly.

@The report was published in Bengali on print and online versions of The Bangladesh Pratidin on July 22 and rewritten in English by Lutful Hoque