The order came on a petition filed by Nashik-based Namdev Warade who lost Rs 29 lakh to such a scam.
A division bench, headed by Justice V M Kanade, also directed the home department to take help of the mobile service providers in the awareness campaign.
The bench also directed that the banks should follow the Know Your Customer guidelines of the Reserve Bank of India.
Warade has approached the High Court seeking transfer of his case from Nashik police to CBI.
According to him, he received a text message on September 5, 2010 which said he had won USD 5 lakh from a multi-national company.
When he responded to the message, he received an email seeking money for the transfer process.
Warade sold his house and other assets and paid Rs 29 lakh in total. Later, he realised he had been duped and lodged a police complaint.
Police arrested one person but 15 others are still at large, his petition says.