Demat Daka 2.0: Anil Singhvi urges investors to be vigilant; suggests how brokers, depositories can make system more robust
In the latest episode of Operation Demat Daka, Managing Editor Anil Singhvi urged the viewers, investors and traders to be more careful than ever as hackers are snooping on their accounts.
Operation Demat Daka: Zee Business brings a special investigative show named ‘Operation Demat Daka’ to alert viewers about recent scams involving Demat accounts of investors. The second episode of the latest show has been aired on the channel which advises investors to remain vigilant and suggests ways to make system more robust.
In the latest episode of Operation Demat Daka, Managing Editor Anil Singhvi urged the viewers, investors and traders to be more careful than ever as hackers are snooping on their accounts. He said that first we have to believe that cyber-attacks can happen. It may happen that someone else can take control of your demat account and transfer the illiquid shared therein.
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Singhvi said that the purpose of this show is not to create panic among investors, but to make them all more alert. Also, through this show, Zee Business wants to give an idea to the brokers, depositories and exchanges on how to make the system and security more robust.
He suggested to the audience to handle the matter with sensitivity (if any).
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Market Guru explained how hackers and market manipulators will hack your account and sell your shares and cause you loss. He said that if you are thinking that money will be deposited in your account only after hackers or market manipulators sell shares from your account, then you are wrong.
Actually, hackers first use your account to sell your shares and then use that money to buy penny or illiquid shares, he pointed out. Due to which your account credit will become zero and the money will be added to their account.
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And another method used by hackers/market manipulators as explained by Singhvi - In futures trading, these hackers will do out-of-the-money deals and lose in your account and make a profit on their account.
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And that is why this show has been named ‘Operation Demat Daka’, Singhvi added.
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