In a tweet on Monday, Kamath said, “These fake app and website scams keep getting worse and worse. Not a day goes by where I don’t read about such scams or hear from people who’ve been affected. The scale of these scams is just insane. There are now countless phishing scams that take advantage of the familiarity of all major brands, celebrities, etc. The tricks vary—fake apps, fake websites, fake social media profiles, scam calls—but all with the same goal: to steal your money. We’ve discovered multiple such scams in the name of @zerodhaonline”.
In his advice to investors, the entrepreneur said,” These scams work because they take advantage of our emotions like hope, fear, and greed. Two simple rules that can protect you: 1) Never act in a hurry and always verify. 2) If something seems too good to be true, it probably is”.
“Be extremely suspicious about everything. If you’re seeing this post, you’re probably already aware of these scams, so please share this with your friends and family who might be more vulnerable,” he tweeted further.
Not just the industry hotshots, but stock exchanges NSE and BSE along with the market regulator Securities and Exchange Board of India (Sebi) have consistently warned investors against these fake appa and website scams through media campaigns and other means.
In a press release today, NSE cautioned investors against unauthorised individuals and entities falsely claiming to provide securities market tips and assured/guaranteed returns on investments in the stock market.”The investors are cautioned and advised not to subscribe to any scheme/product offered by any person/entity offering indicative/assured/guaranteed returns in the stock market as the same is prohibited by law. Further, investors are advised not to share their trading credentials such as user ID/Password with anyone,” the NSE release said.NSE has provided a facility of ‘Know/Locate your Stock Broker’ under the link https://www.nseindia.com/invest/find-a-stock-broker on its website, to check the details of the registered member and its Authorised Persons.
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