Sebi Warns Investors: Beware of Fraudulent Trading Schemes
Securities and Exchange Board of India (Sebi) has issued a warning against deceptive trading schemes shared via social media or mobile apps. These schemes falsely claim to offer stock market access through foreign investors. Sebi emphasizes these are illegal and advises investors to verify authenticity on Sebi's site.
- Country:
- India
The Securities and Exchange Board of India (Sebi) issued a stern warning on Friday, alerting investors to fraudulent trading schemes being disseminated through social media platforms and mobile apps. These schemes falsely purport to provide stock market access via foreign portfolio investors (FPIs).
In its cautionary notice, Sebi categorically stated that such schemes are illegal and lack any endorsement from the regulatory body. It advised investors to remain vigilant when confronted with messages on platforms such as WhatsApp or Telegram that claim to offer trading opportunities via FPIs or foreign institutional investors (FIIs).
Sebi highlighted specific misleading claims including institutional trading accounts, IPOs at discounted prices, guaranteed IPO allotments, and discounted participation in anchor book and block trades. The regulator urged investors to verify the registration status of entities on its official website and to rely exclusively on trading apps sanctioned by Sebi-registered intermediaries.
(With inputs from agencies.)
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- FIIs
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