By Admin 
Sebi alert to investors: Market regulator SEBI has issued an alert and has alerted investors about fraud on social media. At the same time, he warned of unwanted messages from an unknown person and has asked them not to be a part of such WhatsApp ‘Group’ or ‘Communities’. It is being said that there have been very fast cases of website, fake app and fake contact number using the name of stock brokers or their officials. After which the units under the purview of regulation have been requested to take steps immediately. Also, it is said that they should check the status of registration of institutions on SEBI website for any kind of transaction or investment.
SEBI alert
SEBI has advised investors to use only trading applications. On Wednesday, the market regulator said that by issuing notice of taking precautions towards fake social media forums, which is another such alert in two months. A similar list was given by SEBI in April and was warned of fraud.
SEBI says that by using the name of celebrities or the CEO of a famous institution, by creating fake profiles on behalf of the institution that introduces itself as an expert in the stock market, direct investors are implicated. Along with this, they are implicated for a course related to trading or advice and psyche.
Use of celebrities
SEBI has found in its investigation that such units adopt many strategies to win the trust and trust of investors. These units send unwanted invitations as a link to names like ‘VIP Group’ or ‘Free Trading Course’ (free course of stock market business) (free course of stock market business) to join the WhatsApp group by targeting potential customers. These units often make fake profiles to make themselves trusted, showing them as a securities market expert.
In many cases, they also take fake forms of registered intermediaries, famous public personalities or CEOs of established organizations near SEBI. These units exploit investors by showing fake evidence of big profits. These evidence is also allegedly presented by other members of the group who are actually helpful in this scam. In such a situation, innocent investors are influenced by this misleading depiction and are motivated to transfer funds to the bank accounts of these companies.
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