LIC cautions public against misleading social media advertisements; here's how to protect yourself

Life Insurance Corporation (LIC) warned people on Wednesday against fraudulent advertising practices on social media platforms such as Facebook, X (formerly Twitter), and WhatsApp, where the image of senior officials and the company's brand name and logo are misused.

In a post on X (formerly Twitter), LIC urged its policyholders and the public to exercise caution and verify the authenticity of advertisements.

"It has come to our attention that certain individuals and/or entities are engaging in fraudulent advertising practices on various social media platforms by misusing the image of our senior official/s or ex-officials, our brand logo, and our brand name without our consent in an unauthorised manner. We wish to alert the public in regard to such deceptive activities," LIC said in a public caution notice.

The insurance company requested the public to report URL links of such fraudulent advertisements on LIC's official social media accounts.

"We will pursue appropriate legal action and those found engaging in fraudulent activities using our brand without authorisation," LIC said, adding that it is committed to ensuring that such deceptive advertising practices do not mislead policyholders and general public.

How to protect yourself from misleading ads

Confirm source: If you see an advertisement about a company on social media platforms, make sure it is posted by official handles or by an authorised person. You can also verify the details on the company's official website.

Look for red flags: Always stay cautious when the advertisement promises unrealistic returns or benefits. Also, ensure that legitimate contact information is provided, such as a physical address, phone number or transaction through the official website.

Report suspected fraud: If you come across a fraudulent advertisement, it is important to report it to the concerned company or regulatory bodies to protect yourself and others.