We are only conducting Seminars to make Professional Traders. The material published on the blog is of general and educational information only and is not suitable for trading purpose. We do not provide Stock Tips. Please do not make any payment on website. All Material is available Free on the site.

Stay Safe Against False Offer of Transfer of Funds

Axis bank investor educationWe are glad that Axis bank has launched an email campaign by virtue of which they are trying to pass on information to the investors to help them keep wary of ongoing financial scams. It is a small step which will go a long way. Keep it up and that is the reason we consider Axis bank as one of the best and responsible banks in India. The email sent to its clients reads as following:

Dear Customer,

Fraudsters making claims of remitting funds from abroad to help you in your venture/business may ask you for your personal/bank details.

To keep your account safe, kindly take note of the following points:

  • You may receive letters/emails from foreign individuals/entities claiming to offer huge amounts of money in foreign currency, on the pretext of helping you in your business/ venture.
  • These may request for your bank account details and ask you to remit an initial deposit/commission so that they can transfer the money offered.
  • They may also claim that huge sums of money for disbursal of loans at cheap rates are kept in an account with the Reserve Bank of India (RBI), and may show copies of certificate/deposit receipts purported to have been issued by the Reserve Bank.
  • The RBI does not maintain any account in the name of individuals / companies / trusts in India to hold funds for disbursal and it cautions you against such offers.
  • Also, the RBI have received approvals/clarification requests from individuals/entities for effecting remittances in foreign currency towards commission/fees for receiving prizes won in overseas lottery schemes etc.
  • Do not participate in lottery-like schemes functioning under different names, such as, money circulation scheme or remittances for the purpose of securing prize money/awards, etc. These are prohibited under the Foreign Exchange Management Act, 1999. Regards, Axis Bank.

Hope this small effort is a step towards a big leap and people have to be wary of these funds transfers from overseas through enticing emails and these are generally originating from third world countries like Nigeria.

Most Visited Stocks - Click to Visit Link

We Teach and Train our Readers as we want to make sure that Readers become thorough professionals. We do not provide any stock tips. Please do not make any payments. Your joining or reading content is subject to acceptance of our terms and Disclaimer for which link is given on the site at bottom right hand corner. Wherever the word tip is written; it implies an idea which is of informational value and is not suitable for trading. Trade ideas if any are for educational purpose only. We are conducting Seminars to make Professional Traders. Join Now for Bangalore, Chennai and Hyderabad. Leave query through contact form.
Chart> Nifty A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0-9