Scam?

My dad retired a year ago and his bank convinced him to invest in mutual funds. I’m not sure if they are scamming him. There is no way to track this. I downloaded the app suggested by the bank and while logging in it says his KYC is not registered! But one can’t start investments unless KYC is registered! (KYC is a process of linking the identity card of the user to the financial transaction) 

I think the sales person at the bank convinced him to channel some funds to another company that does not belong to the bank. Time to catch these fraudsters or get educated on how these things work.

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