In today’s digitally connected world, financial consumers are increasingly exposed to new opportunities — and unfortunately, new risks. The International Financial Services Centres Authority (IFSCA), India’s unified regulator for financial services in the International Financial Services Centre (IFSC), has issued an important public advisory warning consumers about the growing threat of online scams and financial frauds.
As the IFSC continues to introduce innovative financial products and attract global investors, it becomes equally critical to ensure consumer protection. The widespread use of digital platforms like WhatsApp, Telegram, LinkedIn, YouTube, and others, while enabling faster access to information and services, is also being exploited by malicious actors who impersonate trusted sources and mislead the public.
In light of these risks, IFSCA joins global regulatory bodies — including the International Organization of Securities Commissions (IOSCO), which recently called for platform providers to take action against online harm — in urging consumers to stay alert and informed. Below are key precautions every financial consumer must take when engaging with financial services related to GIFT IFSC:
- Beware of Unsolicited Offers
Be cautious of unexpected messages, emails, or calls promising high-return investment opportunities related to GIFT IFSC. Fraudsters often use enticing language like “guaranteed profits” or “exclusive deals” to lure unsuspecting victims. If it sounds too good to be true, it probably is.
- Don’t Trust Fake Identities
Scammers may impersonate IFSCA officials, financial executives, or even well-known public figures. They may use forged email addresses, fake social media profiles, or even AI-generated deepfakes to build credibility. Always verify identities through official IFSCA channels.
You can confirm whether a person or entity is officially registered with IFSCA by checking the official directory on their website: https://ifsca.gov.in/Directory. If you’re unsure about a communication, verify the identities of IFSCA officials here: IFSCA Management Team. Legitimate emails from IFSCA will only come from addresses ending in @ifsca.gov.in.
- Do Your Homework
Before investing in any product or service, especially those claiming connections to the IFSC, conduct thorough due diligence. Read all terms and conditions, verify credentials, and understand the risks involved. Financial decisions should never be rushed or based on incomplete information.
- Report Suspicious Activity
If you encounter any suspicious or unregulated financial activity involving the IFSC, report it immediately to IFSCA’s Consumer Education and Protection Division. Prompt reporting helps safeguard the broader financial ecosystem.
Contact IFSCA:
Mr. Nikhil, Assistant Manager – nikhil.solanki@ifsca.gov.in
Dr. Praveen Trivedi, Executive Director – praveent.ed@ifsca.gov.in
Mr. Arjun Prasad, General Manager – arjun.pd@ifsca.gov.in
Mr. Akash Boddeda, Assistant Manager – akash.boddeda@ifsca.gov.in
This advisory, issued on July 9, 2025, reflects IFSCA’s commitment to educating and protecting financial consumers. By staying vigilant and informed, individuals can protect themselves and help maintain the integrity of financial markets in GIFT IFSC.