The Mumbai Police Crime Branch’s Economic Offences Wing (EOW) has received several complaints against an unregistered investment platform named “COSTA App Saving.” The app, available on the Google Play Store, is accused of defrauding investors by promising unrealistically high returns.
Authorities have clarified that COSTA App Saving is not registered or authorized by the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), or any other regulatory body.
The EOW has urged citizens not to invest in unauthorised or unregulated online platforms, and to always verify the legitimacy of investment options with relevant regulatory authorities.
Individuals who have already invested in the app are requested to file a complaint with the EOW, Mumbai, or email details to srpieiu.eowmum@mahapolice.gov.in.
“Your vigilance is your best protection — verify before you invest,” the EOW cautioned.
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