Nepal Police Warns Against Fraudulent ‘NEPSE AI’ App Advertised on Social Media

Nepal Police has warned the public to be cautious when clicking on seemingly attractive advertisements on social media, following a recent case involving large-scale financial fraud.

According to police, fraudsters have been using platforms such as Facebook, Instagram, and TikTok to run enticing ads promoting an application called NEPSE AI. The app is falsely marketed as a tool for stock market analysis that can help users earn maximum profits. Once downloaded, the app enables remote access to the user’s device, allowing criminals to transfer all funds from the victim’s bank accounts within moments.

Police said that in some cases, after the fraudulent transactions are completed, all data on the victim’s device is erased to destroy evidence. They have urged the public not to click on unknown links or download suspicious apps, including NEPSE AI.

In one incident, an individual (name withheld) downloaded the NEPSE AI app after seeing a Facebook advertisement. Shortly after installation, the device’s screen appeared to freeze, during which time Rs 2.861 million was transferred from the victim’s various bank accounts to other accounts. The victim’s phone data and applications were also deleted.

The Cyber Bureau of Nepal Police stated that such complaints are not new, but the latest case shows a more sophisticated form of online fraud.

To protect against such scams, the Cyber Bureau recommends enabling two-factor authentication, preferably via SMS, and changing passwords regularly. Users should never share personal or device-related information with strangers and should only install apps from official sources, according to the police. In the event of such incidents, victims are advised to immediately inform their bank or financial institution and report the case to the nearest police station. -- RSS