The State Economic Offences Wing (EOW) along with the
Reserve Bank of India (RBI) will soon launch a website that will give
investors the details of non-banking finance companies (NBFCs), like
whether they were licensed by the RBI and their ratings in terms of
risks.
Tamil Nadu Police will be the first to
introduce such a facility that will go a long way in prevention of
cheating by scamsters, the Additional Director General of Police,
Prateep V. Philip (EOW), told
The Hindu
here on Friday.
Stating that the software has been
developed by Indian Institute of Technology, he said the data base of
NBFCs from RBI will be uploaded in the website.
Through emails
and SMS
Investors can know the details of private financial companies from the website.
The website will also send automated response through e-mails and SMS to the investors, Mr. Philip said.
People
could also know the ratings of the companies in terms of risk involved
in investments. Stating that the website would be launched by February,
he said the EOW would ask the RBI to handle the website and expand its
services across the country.
Mr. Philip said that EOW
has been taking proactive steps in preventing economic offences in
which the poor and the middle class, even the educated and
professionals, were being robbed off their hard-earned savings.
Intelligence wing
“For
the first time, we set up an intelligence wing in our unit in August.
Officers are scanning all the newspaper advertisements, SMS messages on
lucrative schemes of finance companies and multi-level marketing
companies,” Mr. Philip said.
Decoys sent by the EOW
officers and enquiries made by them have prevented gullible people from
being looted and many such fly-by-night companies have closed down
within days, he said.
Scambusters Scheme
In
the Friends of Police Scambusters Scheme started by the Economic
Offences Wing, where in 450 persons, including retired officials from
banks and financial institutions have enrolled themselves for
identifying such fraudulent companies and alert EOW.
People can alert Economic Offences Wing on such companies to the email,
eowscambuster@gmail.
comortneow@tn.gov.in.
They can also send SMS to 9840584729.
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