Despite our continuous efforts to alert investors through emails, awareness campaigns, and messages across multiple social media platforms, the rise in cyber fraud targeting investors has become a serious concern that demands immediate attention. Our cyber security teams have identified an alarming trend: fraudsters creating cleverly disguised scams using fake WhatsApp groups, mobile apps, and websites that impersonate Geojit. Their tactics have become so advanced that even seasoned investors can find it difficult to distinguish between genuine and fake platforms.
These fraudsters have refined their tactics to appear increasingly legitimate. They carefully replicate our corporate identity – from our logo to website design – and even impersonate me and our company spokespersons through unauthorized WhatsApp groups. What deeply troubles us is the growing number of cases where innocent people have fallen victim to these scams perpetrated in our name, resulting in substantial losses of their hard-earned money. Their schemes typically begin with unsolicited messages offering stock trading training or investment tips, accompanied by promises of unrealistic returns, such as guaranteed 50% profits from IPOs.
The pattern of deception is calculated and deliberate. After establishing initial contact, these scammers encourage investors to use fraudulent trading applications. Then they show inflated profits, tempting them to invest more. When these investors attempt to withdraw their funds, they face demands for additional payments, often disguised as regulatory fees or taxes. The devastating truth emerges only when investors find themselves blocked from these platforms, their queries ignored. Then these victims rush to our offices seeking explanations for their losses.
At Geojit, our cybersecurity team has identified and reported numerous fake websites, unauthorized WhatsApp groups, and counterfeit mobile applications that misuse our brand name and logo. We have taken comprehensive action by filing complaints with law enforcement agencies, social media grievance officers, and app stores. We have also engaged professional takedown services and are working closely with domain registrars to shut down fraudulent websites. As part of our commitment to investor protection, we regularly conduct awareness campaigns through various channels to educate the public about investment fraud and help them identify potential scams.
Awareness remains our strongest defense against these schemes. Any investment opportunity that promises guaranteed returns on equity products should raise immediate red flags. Pressure tactics urging quick investment decisions are another clear warning sign. Remember that legitimate investment advice comes only through SEBI-registered entities and their authorized representatives. Be particularly wary of social media influencers promoting investment schemes or WhatsApp groups sharing stock tips with promises of extraordinary returns. Let me also assure you that Geojit never solicits sensitive personal or financial information through unofficial channels like WhatsApp or unsecured platforms. When engaging with Geojit on WhatsApp, always verify the authenticity by looking for the WhatsApp verification badge- a blue tick mark next to our name in the chat window. This verification badge is your assurance that you are interacting with Geojit’s official WhatsApp account.
When accessing our services online, always verify that you are on our official website www.geojit.com. Scammers often create websites with URLs that look almost identical to ours, making it easy to mistake for a genuine website. For mobile services, download our applications only from official sources like the Apple App Store or Google Play Store.
Your financial security matters deeply to us at Geojit. If you encounter any suspicious activities or have doubts about the authenticity of any investment-related communication claiming to be from Geojit, please reach out to your branch immediately or call our customer support team at 1800-425-5501 or email at grievances@geojit.com. We are here to help you verify the legitimacy of any investment opportunity and ensure you make safe and wise investments.
Remember, creating wealth requires patience and informed decision-making. By staying vigilant and working together, we can protect ourselves against these fraudulent schemes while building a secure financial future.
By C. J. George, Founder, Chairman and Managing Director of Geojit Financial Services Limited
