What if someone could lose ₹8 crores by simply being in a WhatsApp group? That’s exactly what happened to a retired police officer who spent his entire life fighting crime, only to fall victim to one of the most sophisticated investment scams India has seen.
His story isn’t unique; it’s a warning. Thousands of Indian investors are being trapped in fake investment schemes using the DBS Bank name, and they’re losing everything.
The scariest part?
These scammers aren’t targeting just the uneducated or gullible. They’re targeting retired professionals, engineers, and even law enforcement officers who should know better.
Let’s break down how this sophisticated fraud actually works, who the real victims are, and most importantly, how you can protect yourself.
Understanding the DBS Group Scam
The DBS Group scam is a calculated, multi-layered operation that exploits trust, desperation, and the fear of missing out on investment opportunities.
While DBS Bank is a legitimate, regulated financial institution with offices across India, fraudsters are impersonating it on WhatsApp and Telegram to run investment schemes that promise astronomical returns.
The scam typically operates under various group names like “DBS Stock Profit Growth Wealth Group,” “DBS Wealth Equity Research Group,” or “DBS India Wealth Group Investment.”
Here’s the critical part: DBS Bank has officially warned customers that they will never conduct investment activities through WhatsApp groups, guarantee high returns, or ask you to deposit money into non-DBS bank accounts.
Yet thousands continue to fall for it.
The Real Cases of DBS Group Scam
Several users have fallen victim to this scam. They have lost a significant amount of money. The thing worth noting is how this scam unfolded for them.
1. DBS Investment Scam Leads to Suicide
In December 2025, a retired Inspector General became a victim of this scam. A 40-year veteran who spent his entire career fighting crime received a WhatsApp message inviting him to join the “DBS Wealth Equity Research Group.”
He accepted, thinking it was a legitimate investment community.
The group’s administrator introduced himself as Dr. Rajat Verma, claiming to be the CEO of DBS Group. An associate named Meena Bhatt presented herself as an employee, regularly posting daily trading tips and profit updates.
What Chahal didn’t realise was that every piece of information, every dashboard update, and every profit screenshot was fabricated.
The group began sharing “investment opportunities” in IPOs and over-the-counter (OTC) trades, with promises of 100%+ returns.
The scammers started small. They created a fake online portal mimicking DBS Bank’s interface and allowed initial investors to withdraw small amounts (like ₹5,000 after depositing ₹100,000) to build confidence.
Chahal fell into this trap. Over the following months, he gradually invested more, borrowing money from friends and family to maximise his “returns.” Between October and December 2025, he transferred approximately ₹8 crores.
Yes, eighty million rupees!
When he tried to withdraw his balance, the scammers suddenly demanded 1.5% of the principal and 3% tax on profits which was ₹2.25 crore in total.
He borrowed more money to pay the taxes.
Then came another demand: ₹20 lakhs for “premium membership.” Then ₹10 lakhs for an “expedited withdrawal fee.” Each demand was framed as the final step before releasing his funds.
The psychological toll escalated when the scammers froze his account and began ghosting him on WhatsApp.
The desperation, shame, and loss pushed Chahal to attempt suicide. He left a detailed 12-page suicide note documenting every transaction, every false promise, and how he’d been systematically deceived.
Fortunately, he survived. His wife found his documents and immediately lodged an FIR, turning a personal tragedy into a criminal case.
2. Hyderabad Engineer loses ₹1.28 crores
Chahal’s case isn’t isolated. In the same period, a retired engineer in Hyderabad lost ₹1.28 crore to an identical scam.
He was added to the “DBS Stock Profit Growth Wealth Group,” given a fake app link, and promised access to IPO allotments at discounted rates.
The pattern is identical: small initial withdrawal to build trust, escalating investment requests, fake dashboards showing daily profits, and finally, impossible obstacles for withdrawal.
3. ₹49.90 lakh DBS Group Scam
Another victim in Hyderabad lost ₹49.90 lakhs through the “DBS India Wealth Group Investment” operated by the same fraudsters using the same names: Rajat Verma and Meena Bhatt.
Police discovered that the scammers had routed this money through at least 29 different cases across India, affecting victims from Telangana, Karnataka, Maharashtra, Gujarat, Uttar Pradesh, and more.
What’s alarming is that these aren’t coincidences or unrelated scams. The same names, the same WhatsApp group templates, the same fake portal designs, and the same escalation tactics are being used across multiple states.
This is a coordinated, professional fraud operation with a specific playbook.
How to Report Investment Scams?
If you suspect you’re a victim of the DBS Group scam or any investment fraud, here’s exactly what to do:
- File a cyber crime complaint: File a complaint at cybercrime.gov.in or call the National Cyber Crime Helpline.
- RBI and SEBI Complaints: File a complaint with SEBI and RBI through their official complaint portals.
- Google Play Store/App Store: Report the app directly through the platform where you downloaded it.
- Local Police: File an FIR at your nearest police station if money has been defrauded.
- Report to DBS Bank directly: Email or call DBS’s fraud helpline. While DBS can’t recover your money directly, they can provide assistance and documentation for your case.
Need Help?
If you want to report similar incidents, you can register with us. We are a professional team that listens to your complaint actively and helps you in every step of your case.
We have helped similar victims recover their hard-earned money that has been lost in scams
Conclusion
The DBS Group scam represents a new breed of financial fraud. The one that doesn’t require hacking into bank accounts or stealing passwords.
It requires only one thing: your trust.
But here’s what you can do: stay vigilant, trust official channels only, and report immediately if something feels wrong.
Your awareness today could protect your family tomorrow, and shared knowledge could prevent someone else from experiencing the heartbreak that thousands of Indian investors are facing right now.
