SECP Alerts Public Against Fraudulent Investment Deposit Taking Platform Smartpays

The Securities and Exchange Commission of Pakistan (SECP) has identified an illegal investment/deposit-taking platform operating under the name “SMARTPAYS“. The platform is being promoted through a website (https://smartpays.org/.), falsely claiming the provision of substantial returns on investment/ deposit schemes being offered through the platform. SMARTPAYS is also falsely claiming to be a licensed non-banking finance company and is displaying a fake Certificate of Incorporation on its website with the name “SMART FINANCE (PRIVATE) LIMITED”. The Public is informed that “SMARTPAYS/ SMART FINANCE (PRIVATE) LIMITED” is neither registered nor licensed by SECP as a non-banking finance company. SECP hereby WARNS THE PUBLIC NOT TO DEPOSIT OR INVEST FUNDS with ” SMARTPAYS/ SMART FINANCE (PRIVATE) LIMITED” or any such other illegal investment/deposit-taking platform in whatsoever form and whatsoever arrangement. The name “SMARTPAYS/ SMART FINANCE (PRIVATE) LIMITED ” has been added to the “List of Companies engaged in Unauthorized Activities” available on SECP’s website. Furthermore, SECP has also referred the matter to relevant investigation authorities.