EOW register FIR against illegal online trading platform

The Economic Intelligence Unit of the Economic Offences Wing (EOW) has registered a case on Monday against an illegal online trading platform ‘Close Friends Traders’. The agency is taking help of cyber experts to nab the people behind the platform.

An EOW official said the intelligence unit received an information and they verified the facts and found that the platform was operating without SEBI/NSE authorization and in violation of regulatory norms. An FIR was soon registered.

Citizens are advised not to invest in unauthorized or unregulated trading platforms, and verify legitimacy with SEBI/NSE before investing, and remain vigilant against fraudulent schemes promising unrealistic returns, said official. The agency even posted on the X about the case registered against the illegal platform, urging that the victims should come forward and report their grievances to the Economic Intelligence Unit, EOW Mumbai.