The government has issued an advisory for those investing in the stock market. Due to increasing fraud on stock trading apps and platforms, the government has issued an alert for investors. PIB FactCheck has shared important warnings for users on its social media platform.
PIB Fact Check is a unit of the Union Ministry of Information and Broadcasting, which issued an advisory saying that cyber criminals are cheating people by creating fake profiles and stock trading groups.
PIB has stated in its post that cybercriminals are creating fake profiles on social media site X to cheat people. Links to fake stock trading groups are shared through these fake profiles. The post says that before transacting with any unknown person, verify his identity.
How to avoid online trading scams?
Beware of guaranteed returns: If someone is promising you a guaranteed return on investment, it may be a scam. There is no such thing as a risk-free investment.
Don't fall under pressure: Scammers often put pressure on you to invest as soon as possible. Do complete research before investing anywhere. Invest only after taking time.
Do check broker registration: If you are investing through a broker, then definitely check the registration with the regulatory authority.
Avoid the advice of social media influencers: Social media influencers often promote investment schemes without research. In such a situation, do not blindly trust their words.
Trustworthy trading platform: If you are investing in the stock market, then use a trusted and regulated trading platform.
Keep the software updated: To reduce online risks, it is important to keep your mobile or computer devices updated. By doing this, you can avoid many malware and phishing attacks.
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