The way we communicate and manage money has changed completely. We communicate through WhatsApp, Instagram, Telegram, etc. Invest, borrow, and send money instantly using various apps.
But this convenience has also increased the risk of falling victim to scams, as they have become harder to spot, better disguised, and often look like genuine opportunities.
SEBI too recently issued a warning about scammers misusing social media platforms to target investors. Fraudsters are impersonating SEBI-registered brokers, CEOs, and influencers to gain trust and trick people into transferring money.
Let’s look at some of the most common scams and how you can stay safe.
- Fake trading groups and investment apps
You may get added to a WhatsApp or Telegram group that looks like a serious trading community with an individual claiming to be an expert who shares tips on stocks, IPOs, or F&O trades. Other members, who are often part of the scam, post fake profit screenshots and testimonials to build trust.
You’re encouraged to invest a small amount, like ₹1,000 or ₹2,000. You might even see fake profits or get a small return. Soon, you’re asked to invest more or use a premium app that promises better returns. The app looks genuine and shows your balance growing. But when you try to withdraw your money, you’re asked to pay extra charges, such as taxes or upgrades.
Eventually, the group disappears or the app stops working. The entire setup was a scam.
- Unlisted shares scam
You might get a call or message offering you the chance to buy shares of a startup or company before it goes public. It sounds exclusive: early access, big returns, and limited availability. To make it believable, scammers may share fake SEBI documents, screenshots, or forged IDs.
Once you send the money, either the contact disappears or you receive worthless certificates. There’s no real allotment and no way to get your money back.
- Instant loan scams
You get a message saying you’re pre-approved for a loan with no paperwork. They ask for your Aadhaar, PAN, and a small processing fee. Once you pay, the loan never comes. In many cases, your personal documents are misused or sold. These scams often target people in urgent need of money.
- UPI refund and QR scams
Someone claims they accidentally transferred money to your account. They ask you to send it back or scan a QR code to refund. But no money was ever sent. That QR code or link pulls money from your account. These scams create a sense of urgency, prompting you to act without thinking.
These are just a few of the many ways scammers operate. The method may vary, but the goal is the same: to earn your trust and then take your money or personal information.
Here’s how you can stay safe:
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Trade and invest only through SEBI-registered intermediaries
- Check here: Securities and Exchange Board of India
- Verified apps: :: SEBI Investor | Investor Support ::
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Zerodha or any other financial entity will never ask you to transfer funds to a personal or random bank account
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Don’t trust random messages offering investment tips, jobs, or instant loans
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Never download apps or click links shared on WhatsApp, SMS, or DMs
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Always check the recipient’s name before a UPI transfer
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Don’t scan QR codes from unknown sources—they can trigger money transfers
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Avoid joining groups that promise guaranteed or sure-shot returns. Report and block if you’re added
You can also limit who can add you to WhatsApp groups. Here’s how to change the setting:
https://faq.whatsapp.com/1131457590844955/?helpref=uf_share
Never share these with anyone:
- OTPs sent to your phone
- UPI PINs
- Login passwords for trading or banking apps
- PAN, Aadhaar, or KYC documents, unless it’s a verified platform
No genuine broker, bank, or financial service will ask for these over chat, call, or DM.
To understand these scams better, we’ve put together a YouTube playlist that explains how they work:
Please share with your friends and family to spread the word.
