SEBI warns public about scamsters sending forged communications: What investors need to know
The Securities and Exchange Board of India (Sebi) on Wednesday has asked investors or public to exercise caution when receiving any communication purportedly issued on its behalf. The word of caution comes after the markets regulator found that some investors had received notices from individuals who falsely claimed to be Sebi officials. These fraudsters have forged Sebi's letterhead, recovery certificates, logo and seal to send communications to individuals with an intention to commit fraud.
How are investors being misled?
The markets regulator noticed that certain individuals have received communication wherein the sender falsely claims to be an official of Sebi using the market watchdog's letterhead, logo and seal. In certain instances, the sender issued notices through social media platforms asking for payment of fine to prevent Sebi from taking action against the recipient.
In other fraudulent cases, the sender forged a sale certificate to show that he was a buyer of Pearl Agro Corporation Ltd (PACL) property. The PACL scam was the biggest in history wherein around 5 crore investors were defrauded of around Rs 50,000 crore by the company. In 2020, a total of 28,974 properties belonging to PACL and its group entities were put on sale in order to repay investors, who had invested their funds in the company.
Sebi further said in certain cases, the sender issued a fake certificate of use of a third-party vendor account.
What has Sebi told investors?
The regulator has urged investors or members of the public to exercise caution. It has urged them to verify the authenticity of any communication that they might deem to have received from Sebi. Investors can confirm about any such communications from Sebi's website. Investors are advised to be vigilant while dealing with communication/senders demanding information or payment on behalf of Sebi.
How to check authenticity of any Sebi communication?
Sebi said any communication from the markets regulator can be verified from its official website in the following manner:
i) Every order passed by Sebi bears a unique reference number and is available on its website under the path 'Home>Enforcement>Orders'
ii) Every recovery certificate issued by Sebi is available on its website under the path 'Home>Enforcement>Recovery Proceedings'
iii) Every official communication such as letter, notice, show-cause notice, summons, etc., issued by Sebi bears a unique document identification number (UDIN). The same may be verified from the website under the path 'Home>Authenticate Document Number Issued by SEBI'
iv) Names, email IDs and contact numbers of Sebi officials are available on its website under the path 'Home > About >Sebi Directory'
v) Official electronic communication from the markets regulator is issued through the official e-mail IDs of Sebi officials. These email IDs end with domain address '@sebi.gov.in'
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