Beware! Scammers are posing as SEBI officials to fool investors
What's the story
The Securities and Exchange Board of India (SEBI) has issued an advisory warning against fake notices, forged documents, and fraudulent communications in its name. The market regulator said it has come across several cases where people received such communications allegedly from SEBI officials. These messages were sent over social media platforms using forged letterheads, logos, and seals of the regulatory body.
Scam details
Fraudulent messages asked for payment of fines
Some of the fraudulent communications demanded payment of fines to avoid regulatory action, while others offered fake sale certificates and bogus claims related to Pearls Agrotech Corporation Limited (PACL) properties. SEBI has said that all its official orders, recovery certificates, as well as notices carry a unique reference number or document identification number (UDIN). This can be verified directly on the SEBI website.
Verification advice
Tips to verify official SEBI communications
SEBI has advised the public to be cautious and verify any communication related to its operations through the official website, especially when asked for sensitive information or payments. The regulator also requested people to cross-check contact details of SEBI officials through an online directory on its website. All official communications from SEBI are sent from email IDs ending with "@sebi.gov.in."
Rising scams
Advisory comes amid spate of fraudulent communications
The advisory from SEBI comes amid a spate of fraudulent communications impersonating the regulator. These scams have been reported on social media platforms, with some even offering fake certificates for the use of third-party vendor accounts. The market regulator has urged investors to be vigilant and verify any communication they may have received from it before acting upon them.