Raising concerns over online fraud schemes duping the public of their hard earned money, the Bombay High Court on Wednesday directed the Economic Offences Wing of the city police to state what strategy it proposes to develop to tackle such offences.

"There has to be some strategy to probe such offences where people are lured into investing money by some websites in the promise of huge returns and are then duped. We want the police to state what efforts will be taken," a division bench of Ranjana Desai and R V More said.

The court was hearing two public interest litigations filed in the Speak Asia and City Limouzines fraud case. The court has directed EOW to file their reply within two weeks.

The court was informed by public prosecutor Pandurang Pol that EOW has registered an FIR in the Speak Asia case and has arrested five persons and a further probe is on.

Speak Asia, a Singapore based online survey company, is alleged to have cheated people of crores of rupees by promising them huge return in exchange for taking part and investing in its surveys.

Meanwhile, the court while hearing the City Limouzines fraud case appreciated the steps taken by EOW in seeking to cancel the bail of four accused who went absconding after they were let off on bail.

"We are happy that the police has woken up and started working. Awareness should also be created among people so that no one invests their money in such fraud schemes," Justice Desai said. Pol informed the court that EOW has arrested three directors of City Limouzines.

The Cuffe Parade-based City Limouzines (India) Ltd had floated a scheme under which investors paid for cars, which were to be bought in their names and rented out by the company. But later, the cheques issued by the company began to bounce.