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Fraud Alert! SBI Warns of Scammers Using Its Name to Lure Investors With Stock Tips – How to avoid it?

India’s biggest lender, the state bank of India (SBI), has warned the public about unauthorized advertisements claiming to offer Stock Market Tips and Investment Advice Using ITS NAME NAME.

In a detailed video shared on the social media platform x, sbi informed that scammers share messages on various online platforms claiming of investment tips.

“Certain unauthorized entities and individuals are circulating sponsored advertisements and messages, particularly via social media platforms and online channels, Falseli Claseli Claseli Claseli Classel Tips, Investment Advice or Privileged Financial Information, Under the Guise of Association with State Bank of India (SBI), ”The bank stated.

How does the scam work?

Scammers create fake profiles with the name and logo of SBI, Share False Advertisements Promising Unrealistic Returns.

Certain advertisements encourage the public to join their Whatsapp Groups for Stock Market Tips to Earn High Investment Returns.

They are typical “Invite Netizens as also the public at large Include Messages Such as: Now is a chance, join my whatsapp group for free.

The Bank Clarified that All Such Claims are complete False, adding, “SBI does not offer any such stock market tips or run schemes that promise unrealistly HIGH RETURNS, Nor Do Authorise Any percent Or entity to do so on our behalf. “

How to avoid this scam?

SBI Asked All The Customers and the General Public to Be Vigilant and Not Act upon Such Unauthorized and Misleading Advertisements.

Upon receiving any message from SBI, verify the communication by contacting the nearest SBI Branch or visiting the official website – https://bank.sbi,

Additional, Report Such Suspicious and Misleading Messages to SBI and Other Relevant Authorities for Necessary Action.

SBI has advised the public to deal with only official approved entities and relay on information from verified and official sources.

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