HDFC Bank cautions against investment frauds: Tips to protect yourself from investment scams

Fraudsters who commit investment scams frequently make extravagant returns on investments made in equities, initial public offerings (IPOs), cryptocurrencies, Bitcoin, etc. In order to deceive victims, fraudulent automated investment platforms or applications are created, allowing them to view fictitious dashboards showing high investment returns. Fraudsters typically exploit people through social engineering tactics; however, being cautious and transacting only after due diligence will help safeguard against fraudsters.

Here are few tips to protect yourself from investment scams, according an email sent by HDFC Bank to its customers.

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Do proper research about the company or individual offering the investment, their track record, and legitimacy. Invest through registered brokers only.

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Exercise caution with unsolicited investment opportunities that promise unusually high returns with minimal risk

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Ensure the entity through which an investment is invited, has an official website, valid contact number, and a physical address.

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Do not feel pressured with claim of the investment opportunity being for a limited time or exclusive. These tactics are aimed at pressuring victims to act quickly and preventing them from conducting thorough research.

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Be alert to common red flags, such as guaranteed returns, lack of transparency in investment strategies, or refusal to provide detailed information about the investment.

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Report any suspicious call/message on the Chakshu portal on www.sancharsaathi.gov.in

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