Identity Theft

What is Identity theft?

Identity theft is when someone, in a false and fraudulent manner, gets access to your KYC documents such as PAN card, Aadhaar card, bank statements etc. and then impersonates you using your personal information & documents to make unauthorised transactions like obtaining credit cards, loans and other services in your name.

Identity thefts can be carried out in various ways. Some identity thieves look through garbage bags, ATM bins, and bank dustbins to steal discarded ATM slips and bank statements. Other high tech thieves, hack into corporate databases and steal customer data.

Identity thieves carry out such frauds by creating fake & false emergencies like account closure or blockage due to incomplete KYC. They then offer to assist you in completing the process via fake call, WhatsApp, Telegram or e-mail medium.

Many times, they also create fake contests and lucky draws in the name of Samco Securities and send communication to you about winning a grand prize. Post that they ask you to fill up a form or send your documents to complete the process to claim your prize. Remember, Samco Securities never arranges such lucky draws or contests and will never ask for your personal documents.

What is the purpose of identity theft?

The intent behind identity theft is to use your personal information to access your financial accounts and make fraudulent transactions, transfer money or gain access to additional accounts.

As your Demat account is linked to your bank account, even if the fraudster does not have your physical debit card, they can still make unauthorized transactions using your card number, PIN and security code.

How identity theft is done by fraudsters?

First and foremost, your personal details are stolen by fraudsters in various ways including hacking, phishing, intercepting mails, etc.

Secondly, they use this stolen data to log in to your authentic accounts or by creating a new account, using your credit / debit card to make purchases etc. As a result you might find some suspicious entries in your trade history statements or ledger balance.

How to safeguard yourself from identity theft scams?

  • Please add and to your contacts and safe sender list to ensure that you maintain all email communication through this ID only. Samco will never ask for any documents from any other email id.
  • When you download your trading history, ledger and P&L statements, study and cross verify to make sure that all the transactions are duly reflected. If you find anything suspicious report the same by clicking below and send us an email about it.
  • identity theft
  • Always keep yourself secured with two factor authentication. Create strong passwords that are unique to each of your accounts. Using a VPN when accessing public Wi-Fi can add an extra level of security.
  • Do not fall prey to unbelievable contest or lucky draw prizes. Remember if it is too good to be true then chances are high that you are being cheated.
  • Complete you KYC only through Samco known sources such as its website or or calling official support number 022-2222-7777 | 022-4503-0450 only. There are no other sources or ways to complete KYC with Samco.

A lot of vulnerable clients get affected by such identity theft frauds as they get scared for getting their accounts closed or gets too excited for winning a lucky draw prize which leads to them getting cheated and duped. Never believe and trust any such emergency KYC calls or fake contest and directly report them at Samco at very first instance.

Stay Vigilant, Stay Secure!