SEBI directs entities to use '1600' phone series for secure calls for protection against fraud

In a significant move to bolster investor protection and combat financial fraud, the Securities and Exchange Board of India (SEBI) has mandated that all its regulated and registered entities use the '1600' phone number series for service and transactional voice calls.

This directive, announced on Tuesday, aims to ensure that investors can easily identify legitimate calls from SEBI-regulated entities, thereby reducing the risk of fraud from entities masquerading with regular 10-digit numbers. The implementation of this measure is part of SEBI's broader strategy to enhance investor security and trust in the financial markets.

SEBI's directive explicitly states that "all regulated/registered entities are advised to only use the '1600' phone number series exclusively for service and transactional voice calls to their existing customers." By enforcing the use of this specific number series, the regulator seeks to minimise the potential for unscrupulous actors to deceive investors by disguising their identities. This measure is expected to significantly curb the incidents of financial scams, allowing investors to engage confidently with authorised entities. The change is part of a collaborative effort with the Telecom Regulatory Authority of India (TRAI) to create a more secure financial ecosystem.

Investors are urged to remain vigilant and report any unsolicited commercial communications or suspected fraudulent activities. This vigilance is crucial as SEBI continues to promote a safer investment environment. For instances of spam or unsolicited commercial communications, investors can file a Do Not Disturb (DND) complaint through telecom service provider apps or websites, such as Airtel, Jio, Vi, MTNL, or BSNL. Alternatively, they can use the TRAI DND app or contact the 1909 helpline to register complaints. Such measures are designed to empower investors and enable them to take proactive steps in safeguarding their interests.

In addition to reporting unsolicited communications, investors are advised to report suspected fraud cases to the Chakshu Platform of the Department of Telecommunications. Should a fraud have already occurred, it is critical to report it to the Cyber Crime Helpline at 1930 or via the official website www.cybercrime.gov.in. These resources provide pathways for investors to seek redress and support in the event of fraudulent activities. By leveraging these mechanisms, SEBI aims to foster a robust framework for investor protection, enhancing the integrity of financial transactions.

This initiative underscores SEBI's commitment to creating a transparent and secure financial landscape. By aligning with TRAI, SEBI is taking proactive measures to eliminate potential threats to investor security. The introduction of the '1600' phone series is a testament to SEBI's dedication to safeguarding the interests of investors and ensuring their interactions with financial entities are trustworthy and fraudulent-free. SEBI's ongoing efforts reflect a strategic approach to maintaining the resilience of India's financial market infrastructure, ultimately benefiting investors and the economy at large.