DSE Warns of Deceptive WhatsApp Groups Duping Investors

Several fraudulent WhatsApp groups have recently emerged using the name, logo, and address of the Dhaka Stock Exchange (DSE), through which investors are being deceived, the Dhaka Stock Exchange Commission (DSEC) has warned.

In a press release issued on Sunday, August 24, DSEC stated that "a certain unscrupulous group in the capital market is using the name, address, and logo of the DSE to operate WhatsApp groups, carrying out scams with innovative tricks and deceptive methods. This has come to the notice of the DSE management."

The DSE management has taken the matter with utmost seriousness and, for the sake of investors and the broader capital market, has formally notified the regulator, all brokerage houses, the Central Depository Bangladesh Limited (CDBL), banks, and other relevant institutions through official correspondence.

In addition, a cautionary notice has been displayed on the DSE website banner, warning investors to stay alert against such fraudulent activities.

DSEC further informed that a complaint has already been lodged with Khilkhet Police Station and investigative measures are ongoing.

Advising investors, DSEC reiterated that "the only legitimate channels for trading shares or securities are through the certified brokerage houses of DSE and CSE, and the official DSE mobile app."

The press release also cautioned investors that if anyone offers them the lure of abnormal profits, they must avoid such traps. "Your capital is yours, your investment is yours. So do not let your hard-earned money fall prey to fraudulent groups. Always remain cautious, and invest with proper knowledge and understanding," DSEC emphasized.