In short
A demat or depository account is targeted through unauthorized access, impersonation or credential theft The objective is typically to take control of or misuse securities holdings/account access.
What it is
Fraudsters seek access to securities-account credentials or authentication. The victim is then pushed to share credentials/OTP, follow a fake login or approve unauthorized account changes.
How it starts
A demat or depository account is targeted through unauthorized access, impersonation or credential theft.
What they tell you
Fraudsters seek access to securities-account credentials or authentication
What they want you to do
Share credentials/OTP, follow a fake login or approve unauthorized account changes
How you lose money
take control of or misuse securities holdings/account access
What happens next
After the first successful step, the fraudster may demand more money/information, deepen account or device access, or disappear.
Warning signs
trust | urgency | authority | credential theft | account takeover | phishing
Where this is documented
India — officially documented by an Indian authority/regulator
How to avoid it
Use only the bank/payment app or official contact details; never share OTP, PIN, password or screen access; verify the payee and transaction purpose before approving.
If it already happened
Contact the bank/payment provider immediately if money moved; report financial cyber fraud promptly via 1930 and cybercrime.gov.in; preserve messages, transaction IDs, phone numbers and URLs.