SEBI Cautions Investors against Fake Refund Promises
Moneylife Digital Team 07 July 2022
The Securities and Exchange Board of India (SEBI) has asked the public to guard against unauthorised attempts by unscrupulous individuals trying to cheat public by holding out as officials of recovery and refund department of SEBI . 
While cautioning investors, the market regulator said that such unscrupulous individuals falsely inform the public about refund of money in various cases through phone calls/ emails/ messages. 
These fraudsters are reported to have sent emails impersonating employees of SEBI, posing as officials or posing as official communication channels of SEBI and offer to help investors to resolve their complaints. Often, investors are made to part with money in the name of the processing and other fees. 
SEBI has warned the public against such false claims of refund and cautions them against parting with any documents / money on such calls / emails/ messages etc. SEBI has clarified that it does not seek money or fees in any form for resolution of complaints. The public has been advised to refrain from responding to such communication from people impersonating as SEBI officials.
Further, SEBI has reiterated that it does not seek processing fees or money in any form in cases where money are to be refunded as per court order. The public / investors has been advised to note that the employee directory of SEBI and details of refund process initiated by SEBI, if any, are available on SEBI website ( which can be checked on receiving such calls / emails / messages.
Investors must exercise caution and not fall prey to fraudulent emails or communication in the name of SEBI or its officials. Investors are advised to inform the local police or cybercrime authority about such frauds immediately.
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