Fraudsters also resort to bogus stock to cheat many times. Bogus stock means that the stock is not there, but about which misleading information is being spread. The information of such stock is always given through phone call or message.
Fraud in the stock market
Internet is a big role in business. Especially in online business like stock marketing. Thick information about trade and security is available in just one click. These are in the form of security stocks and bonds that come under financial investment. In the recent times, there is a continuous increase in the number of people who open online investment accounts and think of brightening their business through the Internet. But do you know that hackers think two steps ahead and spoil the work of investors.
Investors gather information about the company’s stock in just one click and decide to buy and sell. Through online, investors can buy stocks at a cheaper rate in a short time and can sell easily while earning a profit. But it should also be known that hackers also take advantage of this facility and fraud security in minutes.
Since all this work is online, it is easy for them to steal information through hacking. Internet gives them easy way, this work is done fast and without revealing any identity, the information is easily shared. In view of this, while doing online stock marketing, it is advisable to keep blowing.
What does the Ministry of Home Affairs say
In this regard, new guidelines are always issued by the Ministry of Home Affairs. It is said that whenever doing cyber business, keep some precautions in mind. This can prevent any major danger. According to the cyber friend of the Ministry of Home Affairs, Cyber Awareness, if an unknown person offers to invest in the stock market over the phone or through a message, do not trust him at all. This can be a sign of some great danger.
Stock Market Cyber Frauds : Be aware and Be Cyber Safe pic.twitter.com/NvmwOXLGAY
– Cyber Dost (@Cyberdost) April 7, 2021
According to the Ministry of Home Affairs, whatever advice and suggestion is required about the stock market, then talk to SEBI registered investment advisors and trust their steps and methods. This medium is safe and there is no risk in it. If there is any kind of fraud, then inform it immediately on SEBI’s website www.sebi.gov.in. Apart from this, information about cybercrime can be given online at cybercrime.gov.in.
This is how the stock price is increased
It is often seen on the Internet that fake or misleading information is given to increase the price of a stock. In this, the price of a common stock can also be shown by increasing. Frauders use phone calls or messages for this. Through the internet, they come to know that such and such person has to buy stock.
Fraudster then thinks of cheating accordingly and steals personal information and makes him a victim of swindling. This work is done with many people at once. Due to this, many people shop for a stock together and the price of that stock suddenly rises sharply. This gives the stock a quick start over the company. But as soon as the fake news is revealed, the stock collapses.
What is bogus stock
Fraudsters also resort to bogus stock to cheat many times. Bogus stock means that the stock is not there, but about which misleading information is being spread. The information of such stock is always given through phone call or message. In this, some people are targeted and encouraged to invest in bogus stocks. In lieu of this, money is collected from them. As long as they understand about the fraud, then their account is cleared. The only way to avoid this is not to rely on unknown phone calls or messages.
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