Pakistan Stock Exchange Limited (PSX) has issued an investor alert regarding the surge in fraudulent activities promoted through social media and WhatsApp groups under the guise of investment advice and training courses.
The scammers may misuse the name of the registered professionals or claim to be affiliated with a legitimate company to lure the investing public to participate in unauthorized investment schemes.
These fraudulent groups and media pages demand fees from individuals to grant them membership, promise exclusive access to insider tips, and provide training on investments. The major suspicions include requests to transfer money to a private or third-party account, promises of exorbitant profits, claims of no or minimal risk, and promises of providing valuable investment tips.
To avoid becoming a victim of such types of scams, the investing public is warned to be wary and alert of unsolicited investment advice received through messages/e-mails and other social media platforms including popular applications such as WhatsApp.
To stay safe from possible scams, the following precautions must be taken:
Investors are advised to regularly visit the official websites of SECP, PSX, CDC, and NCCPL to keep themselves updated and make well-informed and prudent investment decisions.
Investors are advised to report any suspicious activity immediately to PSX through any of the following modes:
About the Author
Written by the expert legal team at Javid Law Associates. Our team specializes in corporate law, tax compliance, and business registration services across Pakistan.
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