Bangalore, Jan 28: Digital Society Foundation has set up an Online Investors' Association of India (OLIAI) to bring together online investors into a common forum so that they could excercise their rights effectively.
OLIAI Chief Coordinator N Nijayashankar told reporters here today that DSF is concerned that the victims of online frauds are not getting adequate remedy in the legal system and it now intends to empower them with proper education about the risks in online trading.
"Online investors are becoming part of a new culture in the country and more and more investors are falling prey to online frauds involving their bank funds and even in succ case the involvements of bank staff or other agents," he said.
The new forum will urge SEBI and RBI to take steps to secure the interest of online investors including mandatory security implementation such as recording of invenstors conversation and use of digital signatures, he said.
He also demanded for settig up of cyber crime police stations at district level acros the naation following the rise in the crime related to Information Technology.