Fake 'Quantum AI' investment scheme circulating in FM Sitharaman's name, warns govt
New Delhi, May 24
The government on Sunday warned citizens against a fake investment scheme being circulated online in the name of Union Finance Minister Nirmala Sitharaman, which falsely promises monthly earnings of Rs 3 lakh on an initial investment of Rs 22,000.
In a post shared on social media platform X, Press Information Bureau's fact-checking unit clarified that the so-called "Quantum AI" investment platform is fraudulent and has no connection with the Government of India or the finance minister.
"Fraudsters are running a 'Quantum AI' investment scheme in the name of Union Finance Minister Nirmala Sitharaman, promising citizens a monthly income of Rs 3,00,000 against an initial investment of Rs 22,000," the PIB Fact Check said.
The government categorically termed the claim "fake" and stated that neither the Union Finance Minister nor the Government of India is endorsing any such investment platform or scheme.
"Neither the Union Finance Minister nor the Government of India is endorsing any such investment scheme or platform," FM Sitharaman stated.
The PIB Fact Check unit also urged people to remain cautious while dealing with suspicious investment links and online platforms that claim guaranteed high returns in a short period.
It warned that such schemes are designed to deceive people and make them lose their money.
"Beware of such suspicious links or platforms that aim to deceive people into losing their money," PIB Fact Check added.
Citizens have been advised not to click on suspicious links or share personal and banking details with unverified platforms circulating on social media and messaging apps.
The government further said that suspicious content related to the Government of India can be reported directly to PIB Fact Check through WhatsApp at +91 8799711259 or via email at [factcheck@pib.gov.in](mailto:factcheck@pib.gov.in).
— IANS
Reader Comments
It's sad that people still fall for such obvious scams. But honestly, with the economy the way it is, many are desperate for quick money. The government should run awareness campaigns in local languages especially for senior citizens who are most vulnerable. My grandfather got a similar call last week promising gold returns - we had to explain it's a scam. Education is the real shield here.
Why does the government always play catch-up instead of preventive action? Shouldn't platforms like WhatsApp and Telegram be held accountable for allowing such fraudulent content to spread? The PIB helpline is good but by then the damage is done. need better regulation of these apps that are now becoming scam factories. Aar ya paar, something must change.
I'm from the US but living in Bangalore now. These scams are global - we have similar ones using Elon Musk's name. Good to see India's government being proactive with fact-checking. The WhatsApp number is a smart idea. Wish more countries had this. But people need to understand: no legitimate investment scheme guarantees such high returns with zero risk. Stay educated, stay safe.
Chalo at least PIB is doing something. But why don't they run these warnings on TV and radio too? Many in villages don't use X or WhatsApp. Also, why was the PM's name used last time and now FM's name? These scammers have no shame. The government should also train village-level officials to spread awareness. Prevention is better than cure yaar.
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.