Nithin Kamath, founder and CEO of Zerodha, has raised alarms over a rise in financial frauds, particularly through social media, citing a case where a Bengaluru techie lost Rs 91 lakh to a scam via a WhatsApp group. He urged users to be cautious about joining such groups and recommended changing privacy settings to prevent unknown individuals from adding them. Kamath noted that scams have totaled 11,000 crores in the past nine months, expressing concern about the potential for AI to exacerbate these issues.
