New Delhi, June 16 -- Zerodha co-founder Nithin Kamath has advocated the latest UPI security feature introduced by the Securities and Exchange Board of India (Sebi) amid the rising number of investment scams related to fraudulent brokers.

In a post on the social media platform X, Kamath wrote, "The number of fraud cases involving scammers impersonating brokers and asking for money to be transferred to random accounts has skyrocketed. To protect investors, SEBI has introduced a new UPI security feature. All legitimate fund transfers will now only go to verified UPI handles."

The market regulator is set to introduce a new UPI address structure for all Sebi-registered entities that collect funds from investors. The latest feature, which wi...