Fake stock tips continue to circulate

Sources say regulators and police cyber teams haven't been able to identify people involved in such practices

The Securities and Exchange Board of India's (Sebi's) and Telecom Regulatory Authority of India's (Trai's) joint effort to curb messages on mobile phones (SMSes) with fake stock tips has not yielded the desired result.

Many continue to receive these, claiming to be sent from leading brokerages. Sources say the regulators and police cyber teams haven't been able to identify the people doing this.

Regulators can only warn investors of such traps, said an official at one.

Sources say in most of these cases, the database servers in question are based outside the country. And, encryption technologies make it more difficult to track, explained