Addressing the Attack of Counterfeit Brokerages and Phishing Scams
Imagine the shock of losing your hard-earned savings to an app masquerading as a trusted Indian brokerage. Unfortunately, this nightmare has become a reality for numerous investors as fraudulent broker apps continue to proliferate. Nithin Kamath, CEO of Zerodha, has sounded the alarm regarding this alarming trend, echoing concerns about the surge in Chinese loan app scams. Kamath recently issued a stark warning about the rise in phishing scams, primarily orchestrated by fraudsters from China and other Asian nations. These scams involve the creation of counterfeit websites and trading apps that closely mimic reputable Indian brokerages. Understanding the Modus Operandi Scammers entice users to click on links, urging them to download deceptive apps. These apps exploit users' trust, convincing them to transfer funds to the scammers. This tactic is part of a broader trend of international scams that have witnessed a significant surge
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