Scams - Citizen Support

Beware of insurance fraud?

Have you got a call from a person who represents your insurance company? Requested you to surrender the policy document through him? Inquired about renewing your existing policy?

It may be a fraud!! be aware of that in advance!!

Apart from all other fraud activities by impersonating to steal your hard-earned money, it’s something new that customer might get a call from a person representing an insurance company where you have a policy and you are not regularly paying premium for that policy, and or that company doesn’t have office near by your home.

Fraudsters call with firm tone, usually a customer believes that it’s an official call and speaks about your existing policy, finally requesting you to meet at home and collect policy documents for refund/claim/ renewal etc.

Realize that no company assigned any person to call the customer for these purposes, not assigned anyone to go field and collect documents on behalf of them, not assigned anyone to offer any new product in such a way.

If you permitted them to collect the document, or handed it over for renewal, it might be seriously injure if your hard-earned money washed away from you without being noticed. Such a stolen document may be used to withdraw your policy and take away your money unexpectedly. You never find out when money got stolen in such a way.

If you have any such incident, immediately inform the police and the concerned company to protect public interest and save people from fraudsters.

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Consumer complaint against Online trading

Suppose if your complaint against a stock trader/broker, after writing the issue by email with the concerned broker, if not resolved you can approach NSE and file a complaint here: https://investorhelpline.nseindia.com/NICEPLUS/ keep in mind that adequate proof or documents needed while registering your concern, NSE will take a decision within 15 days and inform the complainant, if still not satisfied, complainant can move for arbitration.

If it is related to BSE then register your concern over here

https://www.scores.gov.in/scores/Welcome.html ,

Score is an integrated grievances redressal system of SEBI.

Keep in mind following complaints won’t consider for process;

Complaints which are relating to entities which are not regulated by Exchange / entities which are not registered with Exchange as Trading Member

Complaints which are relating to activities other than trading
Complaints relating to transactions which are in the nature of loan or financing and not within the framework defined by the Exchange
Complaints involving payment of funds and transfer of securities to entities other than Trading Member
Complaints in respect of transactions which are already subject matter of Arbitration /Appellate Arbitration proceedings
Claims for mental agony/harassment and expenses incurred for pursuing the matter with the ISC
Claim for notional loss, opportunity loss for the disputed period or trade
Complaints pertaining to trades not executed on the Trading System of the Exchange
Claims of sub-broker/authorized persons for private commercial dealings with the trading member

As per SEBI circular dated February 23, 2017, in case the claim is for amount less than Rs. 20 lacs following process is followed:

Tip: Before trading with any company, kindly check whether the broker registered with SEBI Click here to check: https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=30

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