WhatsApp Trading Scam: If you are planning to invest your hard-earned money in the stock market and you are a beginner in this field. In this case, you need to take into account various factors before investing your valuable money. Because cybercrime incidents have significantly increased in the last few years. Nowadays, hackers are using various tactics to steal your hard-earned money by making fake promises of high returns and doing trading scams on WhatsApp. Check how you can stay safe from such scams below.
How WhatsApp Trading Scam is Done
Nowadays. hackers are also involved in scams related to trading apps. These hackers usually use fake apps and offers to lure potential investors. These apps are installed on the devices of the users through sharing apps on WhatsApp, App Stores and ads on Facebook and Instagram. So, if you are getting attracted to these fake apps and offers, avoid opting for such vague things. Instead, you can get an expert’s advice on how you can start your investment journey.
What Government Suggests
A government-owned official account managed by Home Ministry @Cyberdost recently shared a post to create awareness regarding the ever-increasing trading scams. The post suggests that users should always invest in Securities Exchange Board of India (SEBI) registered stock brokers.
How to Stay Safe?
- To prevent such scams, you should not trust any WhatsApp message or text asking you to invest money and promising high returns on investment.
- Always do thorough research on the profile of the broker or any application that you use to invest money in stock.
- Avoid sharing any bank-related or personal information with anyone.
- Always check for the SEBI registration of the app that you are using to invest your money.