The Securities and Exchange Commission of Pakistan (SECP) has issued an urgent public alert concerning fraudulent activities conducted through social media and WhatsApp groups posing as legitimate investment training courses. These deceptive schemes are reportedly exploiting the names of prominent local and international business figures, as well as reputable global financial companies, to mislead and defraud the public.
How the Scam Works
The fraudulent groups are luring individuals by promising membership access in exchange for fees, with the false promise of insider tips and expert training on investments. The handlers behind these schemes claim to offer exclusive insights that can help members achieve significant financial gains, thereby enticing unsuspecting individuals to part with their money.
SECP’s Warning
The SECP has strongly warned the public that these groups are not legitimate and are engaged in fraudulent activities aimed at stealing money from innocent people. The commission has urged everyone to exercise extreme caution and to thoroughly verify the authenticity of any investment-related offers before engaging or making any payments.
Protect Yourself
The SECP also advised against sharing any personal or financial information with these unverified sources, as doing so could result in significant financial losses. The public is encouraged to remain vigilant and to report any suspicious activities to the SECP immediately via official contact channels.
The SECP’s advisory serves as a crucial reminder to stay informed and cautious when dealing with online investment offers. By spreading awareness about these scams, you can help protect yourself and others from falling victim to fraudulent schemes.
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