FRAUDSTER’S ACTIVITIES IN RELATION TO TELEGRAM
INTRODUCTION: – Between existing crimes in between one of the well-known element is defrauding the people and make a use out of it. The rise of online platforms has gone through evolutional changes in our lives, which also includes financial trading. But through this advancement have also created new avenues for criminal conductivities. Telegram, is one of the popular app for messaging, has become the target for fraudsters to influence the trading ambience.
BACKGROUND: – Telegram has strong privacy features which also includes end-to-end encryption and the ability to create large groups etc. It is a platform for legitimate users and skilled fraudsters. They exploit the platform to create fake trading groups, disseminate false information, and manipulate unsuspecting investors.
KEY ASPECTS: – the popular aspects are-
- Scammers artificially inflate the stock, cryptocurrency through false or misleading statements.
- Phishing and installing malware on the victim’s device.
- Making fake investments opportunities.
PROVISION: – India has a comprehensive legal framework to combat financial fraud, which includes-
- Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulation, 2003.
- Information Technology Act, 2000.
- Also, SEBI, 1992.
- Also, there are Cyber Crime Cell, who are specialized unit regarding this matter.
CASE LAW: – There are landmark cases which have partially highlighted this issues of trading fraud via Telegram and the legal responses to it, which are-
- SEBI V. Hanif Kasambhai Shekh and Robert Resources ltd. (2024), in this case SEBI barred two entity one year for engaging in manipulative trading activities through an online.
- The CEO of Telegram Mr. Durov also got arrested for this matter.
CONCLUSION: – Through the technology this kind of crime is being conducted day by day, without any holding onto connected thread. Combating this issue requires a necessary approach, including stringent legal provision, to protect the victims from the loss. Our legal experts and senior advocates of Online Legal Query team also there to felicitate the people and can give the probable assistance.