Do’s and Don’ts for Fraud Protection: Mutual Funds Sahi Hai’ 7 Points Guide To Protect Investment

Do's and Don'ts for Fraud Protection: Years of effort to invest and build a portfolio could end in vain if the money is exposed to fraudsters. While people may think that scammers can only target their bank accounts, a wrong click or a small mistake can even put your investments at risk.

Mutual Fund Sahi Hai, an investor education initiative by the Association of Mutual Funds in India (AMFI), recently shared a do's and don'ts list for investors to save their hard earned money from scammers.

Fraud Protection: How To Save Investments From Fraudsters? 7 Dos by AMFI

-Investors must always keep their Know Your Customer (KYC) updated, if not done earlier.
-Update your email ID and mobile number.
-Make sure that your nominee details are update irrespective of mode of holdings.
-Always deal with registered distributors and do not take investment advice from unregistered advisors and distributors.
-Use the facility of Locking the folio
-Always keep a track of your portfolio, make sure to cross check your statements of account frequently for any modifications or any updations.
-Always track your official email ID for transaction emails, SMS received from AMC/RTA, etc In case of any alert received where you have not transacted contact the call centre or the AMC office immediately to stop further action.

Fraud Protection: How To Save Investments From Fraudsters? 7 Don'ts by AMFI

-Never share your OTP with anyone.
-Never sign on blank forms.
-Invest through unregistered distributors.
-Make sure to never share your important documents like copy of cheque leaf, bank statement, etc. with anyone, other than AMC/RTA office.
- Do not share your password of email, login of transacting websites with anyone. AMCs or RTAs do not ask for OTP or password.
-Never share sensitive details like your date of birth.
- Do not share your investment details with any platform without verifying the authenticity.

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