What to Do If Your Trading Account Is Hacked or Misused?

What should I do if I suspect fraudulent activity in my trading account?

If you suspect any unauthorized or fraudulent activity in your trading or demat account, you should take the following steps immediately:

1. Contact Your Broker / Depository Participant (DP)

- Notify your broker or DP immediately through official channels (email, helpline, or grievance officer).
- Request them to block your account or trading access to prevent further unauthorized transactions.

2. Change Credentials and Secure Accounts

- Change your login password, PIN, or OTP settings.
- Enable additional security measures, such as two-factor authentication.

3. Lodge a Complaint with SEBI via SCORES

File a formal complaint on SEBI Complaints Redress System (SCORES) if the broker fails to resolve the issue promptly.

4. Document All Evidence

- Keep records of all suspicious transactions, communications, and acknowledgments.
- This documentation will be necessary for investigations and any arbitration claims.

5. Escalate for Serious Fraud

- For major or repeated fraudulent activity, consider escalating to SEBI directly through enforcement or vigilance channels.
- SEBI may initiate investigation, freezing of assets, or enforcement action.
If the fraud results in monetary loss and remains unresolved by the intermediary, you may opt for stock exchange arbitration or pursue legal remedies.

Key Tip: Act quickly—early reporting increases the chances of recovering funds and preventing further loss.

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