Assam Cracks Down on Illegal Online Trading: CM Sarma Speaks Out

Assam Chief Minister Himanta Biswa Sarma announced a police crackdown on illegal online trading, following reports of people losing crores of rupees through fraudulent stock market investments. Sarma urged the public to avoid brokers who bypass legal procedures and stated that cases have been registered against these illegal firms.

Assam Chief Minister Himanta Biswa Sarma declared on Tuesday that the police have initiated a comprehensive crackdown on illegal online trading activities. This follows numerous reports of individuals losing crores of rupees by investing through fraudulent schemes allegedly involved in stock market trading.

Sarma also advised the public to exercise caution and refrain from engaging brokers who do not adhere to legal norms. He emphasized that several online trading companies have been conducting business in the state without complying with SEBI or RBI regulations, leading to significant financial losses for investors who have consequently filed police complaints.

'There is no legitimate system for investing in the stock market through these online trading firms,' Sarma stated. He confirmed that police actions are underway against these unregulated brokers and urged the public to remain vigilant to avoid falling prey to such scams. He assured that efforts will continue to dismantle the entire fraudulent network operating in the state.

(With inputs from agencies.)