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. The regulator said it has been undertaking several campaigns to educate the investors to be vigilant while taking investment decisions based on stock tips. In the past, it was noticed that through bulk SMSes, investors were induced to invest in or purchase the stocks of certain listed companies. But the Ukraine Crisis Media Center's Tsekhanovska points out that communications are often down in zones most affected by the war, making this sort of cross-referencing a luxury many cannot afford.
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