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For Oleksandra Tsekhanovska, head of the Hybrid Warfare Analytical Group at the Kyiv-based Ukraine Crisis Media Center, the effects are both near- and far-reaching. Additionally, investors are often instructed to deposit monies into personal bank accounts of individuals who claim to represent a legitimate entity, and/or into an unrelated corporate account. To lend credence and to lure unsuspecting victims, perpetrators usually claim that their entity and/or the investment schemes are approved by financial authorities. The Securities and Exchange Board of India (Sebi) had carried out a similar exercise in 2017 in a matter related to circulation of messages through WhatsApp. "This time we received the coordinates of enemy vehicles marked 'V' in Kyiv region," it added. In this regard, Sebi collaborated with the Telecom Regulatory Authority of India (TRAI) to reduce the vulnerability of the securities market to manipulation through misuse of mass communication medium like bulk SMS.
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