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NSE warns of website copying it to defraud unsuspecting Kenyans

NAIROBI, Kenya, Dec 12-The Nairobi Securities Exchange Plc has warned Kenyans of a scam website copying the bourse that is defrauding unsuspecting members of the public.

NSE through a statement said the site called Nairobi Exchange has been impersonating the NSE and collecting money with a promise of returns from crypto related investments.

The said website also contains the name and logos (collectively trademarks) of the NSE, without the consent of the NSE and thus this constitutes a breach of NSE’s intellectual property, for which we are taking necessary redress action.

“The NSE wishes to confirm that the said website (www.nairobiexchange.com) is not the official NSE website, which has the address www.nse.co.ke, or in any way connected with the NSE,” said NSE.

“In addition, it is instructive that the NSE does not collect money from investors for investment purposes. Investors trade securities listed on the NSE through authorized brokers and investment banks,” reads NSE statement.

To invest at the NSE, investors must open Central Depository System (CDS) accounts with authorized trading members (stockbrokers), deposit money and instruct the brokers to trade securities.

The list of all the brokers and investment banks is available on the official NSE website, www.nse.co.ke.

The NSE offers equity, debt and derivative investment products with 62 equity listing including a Real Estate Investment Trust and an Exchange Traded Fund.

At the same time, the Exchange says it does not offer crypto-based investment products or related technologies and trading platforms.

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