SEBI plans to tackle cyber threats
The Securities and Exchange Board of India (SEBI) has appointed Mrs.Pradnya Sarvade as an officer on special duty to work with its investigation wing. Mrs.Sarvade was the head of cyber crime cell at Mumbai Police and has handled many cases pertaining to online frauds. She has the experience of working in CBI’s bank securities and fraud cell and has handled the investigation and trial of the 1992 securities scam cases.
Due to the rise in the cyber crimes, specially online frauds and phishing, the investors are reluctant for online transactions. In one of the recent case, SEBI failed to do justice to a group of investors who had alleged that a manager of India Infoline at Mangalore had committed a fraud and cheated them of RS 20 lakhs.
With an experienced investigator like Mrs.Sarvade, SEBI will be able to protect the interests of investors in securities in a better way.
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