Those doing online trading should be careful! A small mistake can cause huge loss, know these ways to avoid cyber frauds

Online Trading Scam: Digital trading in India has made investing very easy. Whatever work earlier required trips to broker’s offices, lots of papers and long waits, now it can be done in one click on the mobile. In today’s time, opening a Demat account, buying and selling shares, applying for IPO and investing money in mutual funds can be done easily.

Are retail investors becoming targets of fraudsters?

As much as online trading has made investing convenient, it has also increased the risk of cyber fraud. Cyber ​​fraudsters are preying on retail investors. Cyber ​​​​thugs are no longer limited to just social media or email accounts. They are directly targeting trading accounts, demat accounts, UPI and online banking platforms. By doing this they get immediate access to money. In this regard, Bombay Stock Exchange (BSE) also keeps advising investors to be cautious from time to time.

Small carelessness can cause big loss

While investing, many times we unknowingly make such mistakes which cause huge losses for us, which include common mistakes like keeping a weak password, trading on public Wi-Fi, clicking on unknown links, trusting fake calls from brokers. By making such mistakes, our personal and financial information may unknowingly fall into the hands of fraudsters. Due to which we may suffer financial loss. Even our account may become empty.

Important rules to avoid cyber fraud

According to cyber experts, most of the economic risks can be avoided with a little digital vigilance. For this, it is very important to first create a strong password. It is mandatory to include capital and small letters, numbers and special symbols. Simple information like name, date of birth or mobile number should be avoided in the password.

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Along with this, keep two-factor authentication on on your account so that your information remains safe even if the password is leaked. At the same time, never do any work related to trading or banking on public Wi-Fi. A