Demat Account Tips: It is very important to have a Demat account for investing money in the stock market i.e. for the sale and purchase of shares. Now investors can also link their funds with the demat account. The process of linking this account with the fund has been completely online. Nowadays, you can complete most of the tasks on the share market digitally. Due to the increasing digitization, most of the work has become very easy nowadays, but with the increasing use of internet, the number of frauds in the demat account has increased rapidly. In such a situation, experts keep telling people many tricks to stay safe from fraud. Let’s know about this-
Follow these steps to keep yourself safe from demat account fraud-
1. Keep your login password safe
You need a password to login to the demat account. So it is very important to keep your password safe. Many times people keep their password by writing or saving it in mobile. If you do this too, don’t forget to do it. Keep in mind that keep the password in mind so that no one gets it and misuses it. Along with this, keep changing your password regularly.
2. Check the account statement of the account
Banks always advise their customers to keep an eye on the account statement of their bank account. This rule also applies to Demat account. It is very important to check the account statement of demat account from time to time. Keep checking the trading activity in your account. If you notice any wrong transaction, report it to the depository immediately.
3. Take care of Power of Attorney
Keep in mind that if you are not currently using a demat account, then limit the scope of its power of attorney very much. This reduces the chances of incidents of cyber fraud through your demat account. Along with this, if you are not making any use of this account, then freeze it.