Castler closes Pre-Series A funding of $5 Million led by Capital 2B, IIFL Fintech Fund, Venture Catalysts & Zerodha

A Pune tax consultant was recently duped of ₹15 lakh by a trio of Gujarat-based men who promised him high returns on investment in the share market. The victim, who has not been named, had transferred the money to the suspects’ bank accounts in installments over a period of time.

The scam could have been prevented if the victim had used Castler Escrow. Castler Escrow is a secure platform that holds funds in trust until the terms of a transaction are met. This means that the victim would not have been able to transfer the money to the suspects’ bank accounts until they had delivered the promised investment returns.

Castler Escrow offers a number of features that can help to protect users from scams. These features include:

• Identity verification: Castler Escrow requires all users to verify their identity before they can create an account. This helps to prevent fraud and ensure that the users are who they say they are.
• Fraud detection software: Castler Escrow uses fraud detection software to identify and prevent fraudulent transactions. This software analyses a variety of factors, such as the user’s IP address and payment history, to identify potential fraud.

If the victim in the article had used Castler Escrow, they would have been protected from the scam. The money would have been held in escrow until the suspects had delivered the promised investment returns. If the suspects had failed to deliver the returns, the victim would have been able to get their money back.

Castler Escrow is a valuable tool that can help to protect users from scams. If you are considering investing in the share market or any other type of investment, it is important to use a secure platform like Castler Escrow.

Here are some additional tips for protecting yourself from investment scams:

• Do your research: Before you invest in anything, it is important to do your research and understand the risks involved.
• Be wary of high-yield investments: If an investment seems too good to be true, it probably is.
• Only invest with reputable companies: Make sure that the company you are investing with is reputable and has a good track record.
• Use a secure platform: When transferring money, use a secure platform like Castler Escrow.

By following these tips, you can help to protect yourself from investment scams.