Sometimes some persons, institutions or companies lure people into investing their money giving an assurance of maximum interest or doubling the invested amount in a very short period of time. Such entities or individuals, in a bid to win the trust of the people, give good returns in the beginning as per their scheme, thereby luring the innocent into investing more money in the scam. These schemes end up getting a huge response initially with many people putting in their money in the initial phase. If such schemes are part of a chain system, the initial investors earn more profits and end up publicizing them by word of mouth. People end up falling prey to such frauds in large numbers and invest in huge amounts after which the persons taking the deposits close their offices and flee.
The SLCC is a shared platform for the various regulators viz. Reserve Bank of India, SEBI, ROC etc. and other Stakeholders (Economic Offenses Wing, Registrar of Cooperative Societies, ICAI, IRDA etc to address the issue of unauthorized collection of funds by fraudulent entities and other related matters. If you have a complaint regarding such fraudulent schemes, you can make a confidential complaint to the SLCC here.
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