DigiLocker and the Securities and Exchange Board of India (SEBI) partnered on Sunday to assist lower unclaimed assets and safeguard investors. The National Stock Exchange (NSE) announced the collaboration in a post on the social media site X.

“To decrease unclaimed assets in the securities market and safeguard nominees’ interests, SEBI has partnered with DigiLocker,” the exchange stated. The NSE further stated, “A secure method of managing digital documents—designed with investors in mind.”

The capital markets regulator has implemented a number of measures, including requiring the provision of contact information to streamline the transfer process, in an effort to reduce the amount of unclaimed assets purchased by investors in the capital markets.

For dormant accounts and folios, SEBI‘s unclaimed asset measures include mandatory submission of bank and contact information, a nomination or opt-out requirement, a streamlined transmission process, and centralized reporting of investor deaths.

This month, the capital markets regulator, alarmed by securities market frauds on various social media platforms, issued a warning to investors to use caution and due diligence while visiting the social media accounts of SEBI-registered businesses to ensure that they are authentic.

On a number of social media sites, including YouTube, Facebook, Instagram, X (formerly Twitter), WhatsApp, Telegram, the Google Play Store, the Apple Store, and others, SEBI observed a rise in securities market frauds.

Scammers are luring victims with trading calls under the guise of instruction as a result of the growing use of digital communication platforms. Through a variety of social media sites, they also offer false or misleading testimonials, assurances of a guaranteed or risk-free return, etc.,” a SEBI statement reads.

SEBI observed unregistered investment advising services being offered by organizations that display phony certifications allegedly granted by the regulator or make fraudulent claims to be registered intermediaries with SEBI.

Additionally, fake trading platforms, WhatsApp, and Telegram channels that falsely claim or imply association with SEBI-registered businesses and promise guaranteed or risk-free returns were discovered impersonating SEBI-registered entities.