HDFC Securities warns against fake Whatsapp groups amid rise in fraudulent activities

HDFC Securities has warned its investors against fake whatsapp groups that have been involved in fraudulent activities including impersonating the company and its executives. HDFC Securities is a subsidiary of HDFC bank.

Warning against fraud

As per CNBC-TV18, HDFC Securities has urged all investors to avoid subscribing to any scheme or product offered by individuals or entities claiming to provide indicative, assured, or guaranteed returns in the stock market, as this is illegal

These fraudulent groups may attempt to deceive customers into sharing sensitive information and transferring funds by promising high returns.

The firm has emphasised that they do not ask for trading credentials, such as user IDs and passwords, via unofficial channels. It has also reiterated that it does not solicit personal information, including AADHAR or PAN card details, via WhatsApp or any other unofficial channels.

"It is crucial for investors to be vigilant against fraudulent activities and to make investment decisions based on thorough research and credible information. Always verify the authenticity of any communication claiming to be from HDFC Securities and ensure you are transacting only through our official channels", said Sandeep Bhardwaj, Chief Digital Officer (CDO) & Chief Operating Officer (COO) of HDFC Securities.

HDFC Securities further mentioned that customers are not added to Whatsapp groups. They are also not requested for fund transfers outside the official platforms.

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