Hello everyone! Welcome to the final newsletter of the week. We're here with another round of "How Bharat Does Business."
But before we dive into it, let’s take a look at the thought of the day:
“Breathe. Let go. And remind yourself that this very moment is the only one you know you have for sure.”
By breathing and letting go, you release unnecessary tension and allow yourself to fully experience it now, which is the only moment you can truly control. It helps calm your mind, grounding you in the present, and encouraging peace and mindfulness. Embracing the present reduces stress and brings clarity, helping you feel more centered and in tune with yourself.
Now, let’s get started…
🎯 Top Headlines of the Day
J&K farmers to receive an additional ₹4,000 under PM Kisan Samman Nidhi Yojana in FY25
Bharat’s forex reserves reach an all-time high of $683.987 billion
Adani JV to establish $10 billion semiconductor plant in Maharashtra
📊 Market Pulse
Today’s top-performing stocks are:
Today’s low-performing stocks are:
Assam’s Massive Financial Scam!
Assam Police have recently made headlines with a significant arrest related to a massive financial scam.
They’ve nabbed two individuals, Vishal Phukan, 22, from Dibrugarh, and Swapnil Das from Guwahati, in connection with a staggering ₹2,200 crore scam involving bogus online stock market investments.So, what exactly went down? These two were allegedly luring investors by promising them a tempting 30% return on their investments within just 60 days.
Sounds too good to be true, right? That’s because it was.
Phukan, in particular, used his flashy lifestyle to attract investors, setting up four fake companies, pouring money into Assamese cinema, and even buying up several properties—all part of the elaborate ruse.
During a recent raid on Phukan’s place in Dibrugarh, the police uncovered documents linked to the scam. They’re also on the lookout for Assamese choreographer Sumi Borah, who’s suspected to be part of Phukan’s network.
How Can You Protect Yourself From This?
Some unique and actionable points to help protect yourself from financial scams:
📌 Use a “Scam Detector” App
Using a "Scam Detector" app can be a highly effective way to protect yourself from fraudulent investment schemes. These apps are specifically designed to analyze and detect potential scams by scrutinizing various patterns and red flags in investment offers.
For instance, consider an app like ScamAdviser. This platform evaluates the credibility of websites and investment opportunities by cross-referencing them with known scam databases, checking user reviews, and analyzing website behaviors.
If you're presented with an enticing online investment opportunity promising high returns, you can input the details into this app. It will provide a risk score or alert you to any suspicious activity associated with the investment.
For example, if you find an investment site offering unusually high returns with little transparency, running it through a scam detector app could reveal that it has a history of fraud reports or lacks essential credibility markers.
📌 Verify with Regulators’ Social Media
One effective way to ensure the legitimacy of an investment is to check the social media profiles of financial regulatory bodies such as SEBI (Securities and Exchange Board of India).
Regulatory bodies frequently update their social media channels with warnings about known scams, fraudulent schemes, and other critical information relevant to investors.
For instance, if you come across an online investment platform promising exceptionally high returns with little risk, you can visit SEBI’s official Twitter or Facebook page to see if there are any alerts or warnings about similar schemes.
📌 Check Domain Age and HTTPS Security
When evaluating the legitimacy of an investment website, one effective step is to check the domain age and HTTPS security. A domain’s age can be a significant indicator of its credibility; established websites are generally older and have a track record, while new domains may raise questions about their authenticity.
For example, if you come across an investment platform with a domain registered only a few weeks ago, this could be a red flag, as scammers often use new domains to avoid detection.
Additionally, ensure the website uses HTTPS (HyperText Transfer Protocol Secure) rather than just HTTP. HTTPS indicates that the site has a valid security certificate, which helps protect user data during transactions.
If a website lacks HTTPS, it means your data is not encrypted, making it vulnerable to interception. For instance, a legitimate financial firm’s website will display a padlock icon next to the URL, signaling that it is secure.
📌 Seek Out Third-Party Verification Services
When navigating the complex world of online investments, seeking out third-party verification services can be a game-changer. These specialized services are designed to scrutinize and validate the credibility of financial platforms before you commit your money.
For example, platforms like Trustpilot and Better Business Bureau (BBB) offer comprehensive reviews and ratings for various financial services and companies. They aggregate feedback from users and provide a reliable assessment of a company’s legitimacy.
Additionally, financial tech startups like TrustArc provide tools to verify the security and compliance of investment platforms.
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That’s it for today, folks! We will be back again next week with more valuable insights about ‘Bharat in Business.’ Till then, stay informed, and be aware!
