MUMBAI: Markets regulator Sebi on Friday warned people about the proliferation of securities market-related fraudulent activities using various social media platforms (SMPs). It also asked people to report such activities on its portal, at https://mi.sebi.gov.in/.
With the rise in digital platform usage, fraudsters are enticing victims through trading advice disguised as educational content, Sebi said in a release. They utilise deceptive testimonials and offer unrealistic assurances of guaranteed or risk-free returns via these SMPs, it said.
According to the regulator, the most common securities market frauds observed on SMPs include unauthorised investment advisory services from organisations falsely claiming Sebi registration or showing fake Sebi certificates. Such activities also include floating trading platforms that impersonate that of Sebi registered entities and guarantee fixed returns. Under Sebi rules, no intermediary can guarantee any returns to investors. Common securities market-related frauds also include misleading content designed to draw investors into private chat groups. TNN
