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. In view of this, the regulator has cautioned investors not to rely on such investment tips / advice received through social media platforms. It has also said investors should exercise utmost caution while taking investment decisions while dealing in the securities market. Although some channels have been removed, the curation process is considered opaque and insufficient by analysts. "There are a lot of things that Telegram could have been doing this whole time. And they know exactly what they are and they've chosen not to do them. That's why I don't trust them," she said. This provided opportunity to their linked entities to offload their shares at higher prices and make significant profits at the cost of unsuspecting retail investors.
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