How can unsolicited stock tips SMS be stopped?
Unsolicited stock tips SMS should be reported to The Telecom Regulatory Authority of India (TRAI) and the exchanges. Report to TRAI by sending an SMS to 1909 in the below format:
Message, phone number SMS/call came from, and the date on which this was received.
Example Scenario: Unsolicited SMS asking for investments in some random business, 8553168150, 12/06/2017
Alternatively, install the TRAI DND 3.0 mobile app. The process of reporting these calls is a simple 1 click process, where the app lets users report from the call log. Visit play.google.com/store/apps/details?id=trai.gov.in.dnd to download the TRAI app on the Google Play Store.
In an effort to stop this nuisance, Zerodha has started an initiative
Zerodha also warns if a penny stock is potentially being used for a pump-and-dump scheme since SMS is a way for these scams to be executed. See
Beware of the Phishing Scam.
The exchange has also taken an interest in fixing the problem of these unsolicited messages and has provisioned reporting them on their website, see
Anonymous information page.