In a bid to strengthen investor protection and tackle financial fraud, the markets regulator Securities and Exchange Board of India (SEBI) announced that all regulated and registered entities must use the '1600' phone number series exclusively for service and transactional voice calls to their current customers. This move aims to bolster investor security by reducing the likelihood of fraud carried out by unscrupulous individuals who often use regular 10-digit numbers to mask their identities. By implementing the '1600' number series, investors will find it easier to recognise and accept calls from SEBI-regulated entities, thus lowering the chances of falling prey to financial scams.
Department of Telecommunications in an X post informed about latest SEBI's decision. DoT wrote, “Identify genuine calls and protect your investments easily. Report suspected fraud to Sanchar Saathi or call 1930 in case of financial loss.”
SEBI stated, "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."
The regulator has urged investors to stay alert and report any unsolicited commercial communications (UCC) or suspicious activities. For instances of spam or UCC, investors can file a Do Not Disturb (DND) complaint via their telecom service provider's app or website—such as Airtel, Jio, Vi, MTNL, or BSNL—or use the TRAI DND app or call/SMS the number 1909.
In cases of suspected fraud, investors should report the situation to the Chakshu Platform of the Department of Telecommunications. If a fraud has already taken place, it should be reported to the Cyber Crime Helpline at 1930 or through the official website at www.cybercrime.gov.in.
This initiative reflects SEBI's commitment to fostering a safer financial ecosystem for investors, in partnership with the Telecom Regulatory Authority of India (TRAI).
ALSO READ: WhatsApp Status set for significant upgrade with upcoming feature
Inputs from PTI