SEBI flags over 1 lakh misleading investment messages under 'Sebi versus Scam' initiative
Mumbai, Nov 7
The Securities and Exchange Board of India (SEBI) has flagged more than one lakh misleading messages and posts circulating across digital platforms under its "Sebi versus Scam" initiative, as per the market regulator's Chairman Tuhin Kanta Pandey.
Speaking at a media event here, Pandey warned that unregulated financial influencers have become a major threat to investor safety. Citing a recent SEBI survey, he said that nearly 62 per cent of investors rely on influencer recommendations for their investment decisions, underscoring the urgent need for stronger investor awareness and education.
"Investor protection begins with investor education, especially in an environment where deceptive content spreads rapidly," he said.
Launched to counter the spread of misinformation, the "Sebi versus Scam" campaign focuses on proactive surveillance and public awareness. SEBI has intensified its monitoring of social media platforms, escalated misleading content for takedown, and directed stock exchanges to publish whitelists of verified broker apps regularly.
Investors can now confirm bank accounts and QR codes connected to registered intermediaries thanks to the regulator's new verification tools, which include Valid UPI and Sebi Check. These steps are "critical defences" against new cyber frauds, according to Pandey.
He went on to say that the SEBI's task is to bridge the knowledge gap and encourage active investor participation in addition to raising awareness. The regulator intends to broaden its investor education initiatives through digital media, multimedia formats, on-ground outreach, and communication in several regional languages in order to increase trust and inclusivity.
The program is a component of the SEBI's larger endeavour to safeguard individual investors against fraudulent trading applications, spoof websites, exaggerated return claims, and unregistered advisory platforms that persist in taking advantage of the investing public.
— IANS
Reader Comments
62% relying on influencers is alarming! My cousin lost money following some YouTube "expert". People need to understand that registered advisors are the only safe option.
Good move by SEBI, but I wish they'd act faster. These scam messages keep popping up every day. The verification tools are helpful though ðŸ‘
Regional language outreach is crucial! My parents in our hometown often get these scam calls in local languages. They need protection too.
While I appreciate SEBI's efforts, I'm concerned about the implementation. How effectively can they monitor thousands of social media platforms? The scale seems overwhelming.
Finally! These financial influencers with zero qualifications are ruining lives. I hope SEBI takes strict action against them. Education is key 🔑
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.