SEBI On Fraud Trading Platforms: According to SEBI, fraudsters take advantage of popular social media platforms like WhatsApp and Telegram as well as live broadcasts to defraud people by posing as employees or associates of SEBI-registered FPIs.
SEBI On Fraud Trading Platforms: Market regulator Securities and Exchange Board of India (SEBI) has issued an alert regarding the increase in the number of fraud trading platforms. These fraud platforms cheat people in different ways. SEBI has warned that such platforms falsely claim affiliation with SEBI-registered Foreign Portfolio Investors (FPIs) and cheat people by offering attractive trading opportunities through FPI or Foreign Institutional Investor (FII) sub-accounts or institutional accounts with special facilities. are lured. Fraudsters are using various tactics to lure people, including online trading courses, seminars and mentorship programs.
Taking help of social media platforms
According to SEBI, fraudsters take advantage of popular social media platforms like WhatsApp and Telegram as well as live broadcasts to defraud people by posing as employees or associates of SEBI-registered FPIs.
Through these channels they induce people to download applications that supposedly allow them to buy shares, apply to IPOs and enjoy “Institutional Account Benefits” without the need for an official trading or demat account. They lure you with the convenience of taking it.
How are phone numbers used?
According to SEBI, these fraudsters often use mobile numbers registered under false names to commit fraud. SEBI has appealed to investors to use discretion and avoid any social media messages, WhatsApp groups, Telegram channels or apps that facilitate access to the stock market through FPIs or FIIs registered with SEBI.
According to SEBI, such schemes are clearly fraudulent and do not have the support of SEBI.
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