Dhaka: Acting Managing Director of the Dhaka Stock Exchange (DSE) Mohammad Asadur Rahman today urged the investors not to fall prey to fraud rings that lure people with promises of high returns through WhatsApp, Facebook, and other social media platforms. “Intelligence agencies have identified a Narayanganj-based WhatsApp group behind fraud schemes targeting investors,” he said while speaking at a press conference at the Capital Market Journalists’ Forum (CMJF) auditorium in the city.
According to Bangladesh Sangbad Sangstha, Rahman emphasized that there is no opportunity to trade in the stock market without using licensed stockbrokers, stock dealers, and mobile applications approved by the stock exchange. He urged everyone not to be tempted into trading through any other means. He pointed out that a group is illegally using the logos and addresses of the Bangladesh Securities and Exchange Commission and both stock exchanges on WhatsApp and Facebook, which is a punishable offense.
Rahman highlighted that the fraud ring has been deceiving people by promising quick profits and taking their money. He informed that many have been cheated in this manner and that a complaint was filed at Khilkhet Police Station on August 3 to combat such fraud. Letters have been sent to all stakeholders and all offices in the DSE building to raise awareness. Additionally, a request for the involvement of law enforcement agencies has been sent to the BSEC.
The acting DSE chief also mentioned that a general diary (GD) has been filed again at Khilkhet Police Station as part of efforts to alert investors. He noted that while investor confidence in the stock market is growing, these fraud rings are damaging the market’s image. Rahman stressed the importance of vigilance among all parties involved.
He assured that law enforcement agencies are actively tracking down these fraudsters and urged those who have taken money from ordinary people to return it. He also advised investors to verify any transaction by calling the numbers provided on the websites of DSE, CSE, and BSEC before engaging in any stock market activities.