Stocks dropped on Friday afternoon, as gains made earlier in the day on hopes for diplomatic progress between Russia and Ukraine turned to losses. Technology stocks were hit particularly hard by higher bond yields. The regulator said it had received information that messages containing stock tips and other investment advice with respect to selected listed companies are being widely circulated through websites and social media platforms such as Telegram, Facebook, WhatsApp and Instagram. As the war in Ukraine rages, the messaging app Telegram has emerged as the go-to place for unfiltered live war updates for both Ukrainian refugees and increasingly isolated Russians alike. 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. Since January 2022, the SC has received a total of 47 complaints and enquiries on illegal investment schemes promoted through Telegram. These fraudulent schemes offer non-existent investment opportunities, promising very attractive and risk-free returns within a short span of time. They commonly offer unrealistic returns of as high as 1,000% within 24 hours or even within a few hours.
from ua
