What are the best way to protect your demat account from Fraud?

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What are the best way to protect your
demat account from Fraud? Since the
Securities and Exchange Board of India
(SEBI) introduced the concept of demat account,
the stock market has been transformed. Demat
account combines a persons holdings in
stock, government securities,
exchange-traded funds, bonds, and mutual funds.
Trading by dematerialization eliminates risks
such as bad delivery, fake share
certificates, delays, thefts, and counterparty
risk. There has been an increase in demat account
frauds over the past few years, partly due to the
fact that more and more new investors are
entering the market and are not equipped
to protect themselves. The article will
provide you with the precautions you should
take to prevent demat account fraud if you are
one of the many investors who have no clue how to
prevent it. You can reduce the risk of a
demat account fraud substantially by
following these easy steps
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• If you decide to not use your demat account for
  a while, you should send a signed application to
  your depository participant in order to protect
  from phishing and scams
• The Demat accounts slip The Debit
  Instruction Slip is just like your bank
  chequebook. Prior to transferring your shares
  between Demat account, you must sign the DIS, but
  make sure to not leave it with your broker or
  anyone else
• Make sure you give your broker a limited purpose
  Power Of Attorney so they will have to
  seek your permission before selling or
  transferring funds or securities from your demat
  account
• It is advisable to keep strong or biometric
  password. Also, avoid accessing your account
  from cyber cafes, or from any unsecured Wi-Fi
• A thorough investigation is crucial before
  choosing stock brokerage firm, including
  its history, reputation, and market
  credibility. You should refrain from opening
  a demat account if it is engaged in proprietary
  trading as this could create a conflict of
  interest

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You can feel absolutely safe about the security
of your shares in the demat account. Taking a
little effort on your part can make your trading
experience safer! These tips will assist
you in safeguarding your demat account
against fraud and help you maintain your
demat account security. Follow for more
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