Fake "account manager" promises guaranteed trading returns — then steals your demat funds
A stranger posing as a SEBI-registered expert offers to manage your trading or demat account for guaranteed profits. After you share your credentials, they drain your account through bad trades or outright theft.
Also known as: account handling scam, demat credential fraud, fake PMS manager scam, trading account handler fraud, guaranteed return trading scam
Already happened to you? Do this in the next few minutes
Call 1930 now- 1 Call 1930 — the national cyber-crime helpline — right now. The sooner you report, the better the chance of freezing the money before it moves.
- 2 Call your bank to freeze the account and block the card immediately. Use the number printed on your card, never a number from the message or caller.
- 3 File a report at cybercrime.gov.in and keep every message, screenshot, and transaction ID.
What to do right now
- 1 Never share trading or demat account credentials with any third party — even if they claim SEBI registration
- 2 Verify any broker or portfolio manager's SEBI registration at https://www.sebi.gov.in/intermediaries.html before engaging
- 3 If you already shared credentials, change your trading account password immediately, log out of all sessions, and call your broker's helpline to freeze the account
- 4 Check your recent transactions for unauthorized trades; dispute them with your broker within 30 days
- 5 Report at https://cybercrime.gov.in or call 1930 (national cyber helpline).
Red flags
- ⚠ No SEBI-registered entity offers 'guaranteed' or 'risk-free' returns — this is illegal under securities law
- ⚠ The person asks you to share your trading account login, password, OTP, or demat credentials
- ⚠ They show screenshots of alleged past trade profits to build trust before asking for access
- ⚠ Contact comes via WhatsApp, Telegram, or social media rather than through a registered broker
- ⚠ They claim to manage hundreds of clients profitably but cannot be verified on SEBI's intermediary registry
Sources
- SEBI — Caution to Investors on Stock Market Scams through Account Handling Services (Feb 26, 2026)
- TaxGuru — SEBI Warns Investors Against Account Handling Scams Promising Risk-Free Profits
- TeamLease RegTech — SEBI warned investors about fraudsters offering account handling services
- MoneyLife — SEBI Warns Investors to Stay Alert about Fake STT Notices and Account Handling Scams (Feb 2026)
- IANS Live — SEBI warns investors about fake STT Notices and account handling services (Feb 2026)