Kashmir’s young generation deserves skills, careers, dignity and genuine prosperity—not false promises of overnight wealth. At a time when household incomes are under pressure and aspirations are rising, fraudsters are exploiting the gap between dreams and financial awareness.
They do not always come openly as fraudsters. Many present themselves as successful businessmen, investors, traders, developers or “well-connected” entrepreneurs. They display luxury cars, branded clothes, expensive watches, premium phones, high-class perfumes and photographs with influential people. Their aim is simple: create an image that makes ordinary people believe, “This man is rich, so he must know how to make me rich.”
But luxury is not proof of legitimacy. A car can be rented, clothes can be bought on credit, and social-media status can be created. Genuine credibility comes from registration, transparent accounts, lawful activity, verifiable business records and regulatory compliance.
The dangerous dream of easy money
Many young people and families are told:
– “Your money will double in a few months.”
– “There is no risk; I guarantee your capital.”
– “Join as a partner in my business.”
– “You will receive fixed monthly profit.”
– “This is only for trusted people.”
– “Do not tell anyone; it is a private opportunity.”
– “I have contacts in Delhi, Dubai or big business circles.”
– “Others have already earned huge returns.”
These statements are not signs of a great opportunity. They are warning signs.
No legal investment, market activity or real business can guarantee extraordinary returns without risk. If anyone says that money will double quickly, that profits are fixed, or that losses are impossible, people should immediately become cautious.
The Securities and Exchange Board of India found that 93% of individual traders in the equity futures-and-options segment suffered losses during FY2022 to FY2024, with aggregate losses exceeding ₹1.8 lakh crore. This proves that even regulated markets carry major risk and cannot be treated as a shortcut to wealth.
How the false partnership scam works
In many cases, the fraudster avoids the word “investment” and uses the word “partnership.” He may claim to be involved in trading, real estate, imports, construction, transport, tourism, commodities, online business or some project outside Kashmir.
The victim is asked to provide money. The promoter controls the bank account, alleged business records, clients, invoices, profits and payments. The victim receives only verbal assurances, occasional messages and perhaps a written agreement.
This is not a genuine partnership if one person controls everything and the other person only contributes money.
A proper partnership requires real ownership, clear roles, access to accounts, legal registration, tax compliance, known risks and transparent sharing of both profit and loss. If the promoter offers only profit but hides risk, accounts and business details, the arrangement is unsafe.
Stamp paper cannot protect blind trust
An affidavit, agreement, promissory note, post-dated cheque or stamp paper may look official, but it does not prove that the business is genuine. A document cannot create profits where there is no real business activity.
Before giving money, every family should ask:
– What product or service does this business actually sell?
– Who are its customers?
– Where is its office and operational activity?
– Is the entity registered?
– Does it have PAN, GST, income-tax filings and a proper business bank account?
– Can audited accounts or verified financial records be shown?
– Why is money being taken into a personal account?
– Why are high returns being assured?
– What happens if the business makes a loss?
– Is the person authorised to collect money from the public?
If these questions make the promoter angry, emotional or defensive, walk away.
Religion, friendship and status are not financial proof
Fraudsters may use religious language, family relations, friendship, community reputation or emotional appeals to obtain money. They may say, “Trust me for the sake of our relationship,” or “I would never betray you.”
But financial decisions must never be based only on emotion.
Trust is important in society, but money requires verification. Asking questions does not mean disrespect. It means protecting your family’s future. An honest businessperson will welcome due diligence; a dishonest person will try to stop it.
Why young people are vulnerable
Young people are especially exposed to the quick-money culture because they see expensive lifestyles on social media every day. They may feel that a normal job, small business or long-term saving is too slow. They may believe that trading, crypto, online schemes, private partnerships or “exclusive investment groups” can create fast wealth.
This mindset is dangerous.
A person who loses money at a young age may lose confidence, borrow from relatives, sell family assets, fall into debt or chase a second risky scheme to recover the first loss. Many fraud victims do not report the matter because of shame, social pressure or fear of family conflict.
Silence helps the fraudster. Awareness protects the next victim.
The solution: financial literacy from college to community
Saving Kashmir’s young generation requires a community-level financial-awareness movement. Schools, colleges, universities, mosques, local bodies, media organisations, banks and civil-society groups should work together to teach young people the basics of money management.
Every student should understand:
– How to prepare a monthly budget
– Why an emergency fund is necessary
– The difference between saving, investing, trading and gambling
– How compounding works over time
– Why mutual funds and market-linked investments involve risk
– Why F&O and leveraged trading are not suitable for most people
– How to identify fake business and investment schemes
– How to verify a company, financial intermediary or public offer
– How to protect bank accounts, OTPs, UPI and digital identity
– Why borrowing for speculation can destroy a family’s finances
Financial literacy should be treated as a life skill, just like computer education, communication and career planning.
Build careers, not shortcuts
Kashmir’s future should be built on knowledge, skills and enterprise. Young people should be encouraged to create real economic value through technology, tourism, horticulture, handicrafts, agriculture, education, healthcare, professional services, manufacturing and local entrepreneurship.
A genuine business earns money by serving customers. It has products, invoices, employees, suppliers, tax records and real work. A false scheme earns money by collecting deposits from new people while making exaggerated promises to old participants.
The choice is clear:
– Build skills instead of chasing tips.
– Build businesses instead of joining secret schemes.
– Build savings instead of showing false status.
– Build long-term investments instead of gambling with family money.
– Build credibility through work instead of glamour through borrowed luxury.
Five-point protection plan
1. Pause before paying
Never invest or lend money on the same day. Take at least 48 hours to think, verify and discuss the proposal with an independent expert or financially aware family member.
2. Verify before trusting
Check the legal identity of the business, its registration, office address, bank account, tax records and the authority under which it operates. Do not depend only on photographs, social reputation or an agreement.
3. Reject guaranteed returns
Treat “double money,” “fixed high monthly profit,” “zero risk,” “secret deal” and “limited-time offer” as danger signals.
4. Protect family savings
Never use emergency savings, children’s education funds, medical funds, retirement savings or borrowed money in an unverified scheme. Never transfer funds merely because someone is a friend, relative or religiously persuasive.
5. Report quickly
If someone has been cheated through an online or digital transaction, report it immediately through the National Cyber Crime Helpline at *1930* and the National Cyber Crime Reporting Portal. Prompt reporting improves the possibility of tracing or stopping fraudulent transfers.
A message for parents and elders
Parents should speak openly with young people about money. Do not treat finance as an adult-only subject. Teach children that wealth is not measured by cars, clothes, phones or social-media followers.
Teach them that:
> A person with real wealth does not need to pressure others into giving money.
Young people should be taught to respect honest work, gradual growth, education, savings and lawful business. The greatest financial success is not becoming rich quickly; it is becoming secure, independent and responsible.
Conclusion: protect Kashmir’s future
Kashmir’s youth are talented, ambitious and capable of building a strong economic future. But they must be protected from glamour-based fraud, emotional manipulation and the dangerous culture of easy money.
Every family should remember one principle:
> Never give your hard-earned money to a person whose business you cannot independently understand, verify and legally examine.
Let us build a Kashmir where young people invest in education, skills, lawful enterprises, disciplined savings and regulated financial systems. Let us reject the fraudster’s luxury trap and choose knowledge over greed, verification over blind trust, and patience over false promises.
Real wealth is built slowly through honest work, financial discipline and informed decisions. Kashmir’s future must not be sold for the illusion of quick money.
Irshad Mushtaq is a Jammu & Kashmir-based financial educator, columnist and founder of M I Securities, committed to advancing financial awareness and social responsibility among the public. Through articles, outreach and investor-education initiatives, he encourages families, youth and first-time earners to save regularly, avoid fraud and debt traps, build financial discipline, and plan for education, healthcare, emergencies and old-age security.
His work supports public-interest priorities such as financial inclusion, investor protection, youth empowerment, digital-finance awareness and self-reliance. By complementing government-led efforts on financial literacy and inclusive development, he aims to help build a financially aware, responsible and economically stronger Jammu & Kashmir.
Contact: [email protected]
