The International Financial Services Centres Authority (IFSCA) on September 20, 2024, issued a Caution to Public Dealing with unregistered Broker Dealers in the IFSC.
IFSCA has noticed that some entities falsely claiming to be Broker Dealers in GIFT-IFSC are using social media, particularly WhatsApp, to lure the public into making fraudulent investments by promising high returns. The public is advised to verify the registration of any Broker Dealer with IFSCA through their official website. Be cautious of those offering unusually high returns, demanding upfront payments, or hesitating to provide documentation. If you encounter such entities, avoid dealing with them and report them to IFSCA immediately.
