Fraudulent Telegram groups are on the rise, scamming users on the grounds of everything from gaming hacks to cryptocurrency scams. A new threat has now come up in the form of fake Telegram Groups that aim at luring investors into putting their money in scams under the guise of Mutual Funds. In a press statement, the Kotak Mahindra Bank has warned users against falling prey to such fraudulent groups. Such Telegram groups often use the promise of large returns to attract users and their money, which is not true.
“Kotak Mutual Fund would like to alert all its investors, partners and public at large regarding the fraudulent Telegram and social media groups and communities that promise huge amounts of returns against their investment,” the press statement said.
The groups in question pose as official groups, misusing the Kotak Mutual Fund name and logo, along with the identity of its spokesperson to “misguide” investors.
Kotak Mutual Fund has does operate on Telegram, but it has only one official Telegram handle (https://t.me/kotakmutualfund). The official group also does not promise or misguide investors in any form. Keep in mind that all Mutual Fund investments are subject to market risks and hence, can never have a guaranteed sum of returns on a particular amount of investment. Investors partaking in Mutual Funds should read all scheme related documents carefully before investing, something these fraudulent groups will not have.
