'Sebi' warns investors on YouTube, Facebook, X Security Market Fraud

Mumbai, April 12 (IANS). The regulator of the capital market Sebi warned investors on various social media platforms for fraud related to Securities Market. Sebi advised investors to take precautions and investigate the reality of SEBI registral institutions. Sebi warned investors on social media platforms such as YouTube, Facebook, Instagram, X (First Twitter), WhatsApp, Telegram, Google Play Store and Apple Store in light of increasing cases of fruity fraud related to Securities Market. According to a SEBI statement, “with the increasing use of the digital communication platform, it has been noted that scamers attract people by providing trade calls in the name of providing education. They also give a promise or guarantee of misleading or false testimonials, certain or risk-free returns through different social media platforms.” Sebi found that such institutions do not provide -arched investment advisory services and falsely claim to be registered with Sebi or demonstrate false certificates issued by the regulator. Sebi also saw cases of false Sebi-Registard institutions through fraudulent trading platforms, suggesting that they would certainly or risk-free returns. Sebi said: “Scamsters attract innocent investors on their platforms (false trading/advisory programs) that they provide special services. They say the Facility of Security Trading and Share Price, Institutional Trading Account, IPO at a discounted price, block trade at discounted price and specific award of IPOS with special allocation.” In addition, the scam asks investors to join private chats, groups and channels on WhatsApp/ Telegram through fraud ads/ posts on various social media platforms. They prepare their misleading and manipulative content to investors. The regulator said: “Investors are advised to take care of the access of social media handles of Sebi registered institutions and confirm their reality.” In addition, while investing in the security market, investors are only advised to do transactions of SEBI-PENKED mediatoes and a certified trading app. -Ians SKT/CBT