The YBY Fund, a trading app that has been making headlines in Assam, is currently facing serious scrutiny.
The Assam government has officially banned the YBY Fund app, labeling it a fraudulent platform.
The ban includes penalties of up to ₹2,00,000 or imprisonment for up to three years for those caught using the app.
The app has been described as a fake investment platform that promises high returns on small investments but fails to deliver.
Several reports indicate that users have faced issues with withdrawals and payments, and the app lacks transparency and regulatory approvals, such as from the Reserve Bank of India (RBI).
If you or anyone you know is considering using this app, it’s advisable to avoid it due to the high risk of financial loss.
