Press Esc to close
Friday 06 March 2015
News updated at 12:52 AM IST
Weather
Max: 31.7°C
Min : 16.9°C
In Bengaluru
clear sky

Sebi mulls steps to check manipulation through BBM, WhatsApp

New Delhi, May 5, 2013 (PTI)
A screenshot of the official website of whatsapp

Amid a large-scale usage of smartphone messaging services like BlackBerry Messenger (BBM) and WhatsApp by manipulators to spread sensitive information about their target stocks, market watchdog Sebi is mulling over steps it can take to check risks being posed by these new-age mobile applications.

To strengthen its probe and oversight on stock market transactions, Sebi has already got software tools in place along with IT experts to analyse discussions on social networking sites like Twitter and Facebook.

However, applications like WhatsApp and BBM are proving to be too tricky for Sebi, given the multi-level difficulties faced in tracking the source and spread of market-sensitive information through these mass-messaging platforms, a senior official said.
While these applications use the Internet servers of smartphones, the transmission of messages through these platforms happen in a highly encoded manner and it is very difficult for a third party to decode them.

The official said that the market manipulators started using blogs and social media platforms like Facebook and Twitter in a big way a couple of years ago whenever they wanted to spread a word for influencing some stocks.

However, most of the information shared on blogs and social media platforms can be easily tracked, given the highly public nature of such platforms.

After finding out that the source and spread of any sensitive information through social media platforms could be apprehended easily by the regulators, the manipulators are nowadays mostly using BBM and WhatsApp.

The free messaging services available on these platforms seem to have added to their attractiveness among the manipulators.

The official said that Sebi is as such finding it difficult to get details like Call Data Records from telecom companies and it would not be easy to get information on messages shared through mobile apps -- a commonly used term for such applications.

Sebi's investigations into a number of insider trading and market manipulation cases during the recent months have shown that apps like BBM and WhatsApp were used. However, any tangible solution for knowing the source of messages being spread through these platforms has proven elusive so far.

Last year, Sebi had hired specialist IT officers for keeping an eye on the discussions taking place at these platforms.


Go to Top

Photo Gallery
Rajnath Singh celebrates Holi with Delhi BJP Chief Satish Upadhyay and party leader Vijay Goel...

Rajnath Singh celebrates Holi with Delhi BJP Chief Satish Upadhyay and party leader Vijay Goel...

Hema Malini reacts as an MP smears Gulal on her forehead ahead of Holi celebrations...

Hema Malini reacts as an MP smears Gulal on her forehead ahead of Holi celebrations...

People sing and dance while celebrating Holi, the Festival of Colours, in Kathmandu...

People sing and dance while celebrating Holi, the Festival of Colours, in Kathmandu...

Narendra Modi being presented with the autographed tennis racquets of Leander Paes and Martina...

Narendra Modi being presented with the autographed tennis racquets of Leander Paes and Martina...

Widows daubed in colours chant religious hymns as they take part in the Holi celebrations...

Widows daubed in colours chant religious hymns as they take part in the Holi celebrations...

Tourists celebrate Holi in Jodhpur on Wednesday...

Tourists celebrate Holi in Jodhpur on Wednesday...

A child during Holi celebration in Alipurduar on Thursday...

A child during Holi celebration in Alipurduar on Thursday...

Stranded trucks wait for the re-opening of the Jammu-Srinagar highway, at Nandni near Jammu...

Stranded trucks wait for the re-opening of the Jammu-Srinagar highway, at Nandni near Jammu...

Tennis star and ambassador of Earth Hour 2015, Sania Mirza signs a poster during a press meet...

Tennis star and ambassador of Earth Hour 2015, Sania Mirza signs a poster during a press meet...

People watching the wreckage of the Jaguar fighter aircraft...

People watching the wreckage of the Jaguar fighter aircraft...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523