Geojit launches documentary 'The Shadow Syndicate' on investment frauds

New Delhi: Geojit has released a documentary titled “The Shadow Syndicate” to shed light on the growing incidence of online investment frauds targeting unsuspecting people across India. 

The documentary was officially released by Kerala Finance Minister KN Balagopal in the presence of A Balakrishnan, Executive Director of Geojit Financial Services.

The Shadow Syndicate: 

‘The Shadow Syndicate’ documentary in English and Malayalam delves deep into the methods used by scammers, revealing how fraudulent schemes typically operate through social media groups, messaging platforms, fake apps and websites, mimicking trusted companies, including Geojit Financial Services. 

The documentary exposes common tactics through which the scammers initially demonstrate small and seemingly legitimate returns to build trust. They gradually encourage people to make larger investments, finally creating barriers to withdrawal by demanding more payments or citing fraudulent technical issues. 

Highlighting insights from financial, cyber security and law enforcement experts, the documentary stresses the need for careful verification before making any such investment and provides guidance on the steps the victims can follow to recover their lost money. 

The national cybercrime prevention mechanism also offers robust support in this mission. Victims can contact the national helpline at 1930 to report financial fraud or use dedicated reporting channels like the Kerala Police WhatsApp number (9497980900) to seek emergency assistance in case of losing money.  

Investors and the public are advised to watch ‘The Shadow Syndicate’ on the Geojit Spotlight YouTube channel to learn more about safeguarding their investments in an increasingly digitalised world. 

Produced by the Geojit Foundation, directed by Abhilash Villangatil and edited by Sreerosh P Suresh, the documentary serves as a stern warning to the evolving landscape of digital financial fraud in India. 

The finance minister commended the initiative, saying, “This documentary will greatly benefit the investment community as a whole by shedding light on fraudulent practices and equipping investors with the knowledge to safeguard their money.” 

Balakrishnan said, “Most of the fake applications and fraudsters lure people by promising huge returns on investing in IPOs and other instruments without doing KYC, which seems like an added attraction as people generally think KYC is a burden. Such people don’t realize that KYC is mandatory as well as safeguarding the interests of investors. Through this documentary, we hope to raise awareness about these issues and prevent more frauds, robbing innocent people of their life savings.”