Transfer of Securities Held in Demat Form after Account Holder’s Death

Even as you save and invest for the future, prepare for the worst-case scenario. An integral step in this regard is listing a nominee who will inherit your assets, including dematerialised securities held in a demat account. The process of transferring the assets of a deceased person to their nominees or legal heirs is called transmission. Whether you currently have a demat account or plan to open demat account, knowing how transmission works could help.

Transmission process

The transfer of assets held in demat form—whether stocks, bonds, debentures, mutual fund units, or other financial instruments—depends on certain key details:

  • Whether the demat account is held jointly or singly
  • Whether or not there is a nominee
  • Value of the securities held

To begin the transmission process, claimants must submit their claim with the relevant depository participant (DP).

  1. Jointly held demat account with surviving holders

Suppose a demat account is held … Read More

1.3 Million Payment Card Data Added to Joker’s Stash

A database with about 1.3 million credit and debit card numbers of mainly Indian bank customers has recently become available on Joker’s Stash. Is this something you’re interested in? Do you need chargeback insurance? Well, you’re at the right place. Just keep on reading below.

Market for ID Theft: Chargeback Insurance

Joker’s Stash is an online market that specializes in stolen personal data. It’s the largest and oldest card marketplace in the online world. In February, 2.15 million U.S. cardholders’ sensitive data appeared there.

Cybersecurity company Group-IB was the first to detect the batch of the stolen data. According to the firm, the value of the database makes up over $130 million: each of the stolen card details is being offered at $100. 

It’s believed the fraudsters have gained access to the data via skimming devices installed either on ATMs or point-of-sale (POS) systems. Group-IB says this may be the … Read More