PSX Alerts Public on Online Trading Frauds

APP

Islamabad: The Pakistan Stock Exchange Limited (PSX) has issued a warning to the investing public regarding a surge in fraudulent activities occurring through various social media platforms.

According to a PSX press release, some illegal groups and forums are utilizing AI technology and conventional methods to entice the investing public to join or fill out forms via WhatsApp, Facebook/Meta, and other social media channels.

These scammers often misuse the names of registered professionals or claim to be affiliated with legitimate companies to lure investors into participating in unauthorized investment schemes.

Their correspondence may appear authentic, as they use the regulator’s name, logo, and images, often impersonating members of top management and utilizing proprietary material that seems official.

Fraudulent groups and forums promise guaranteed fixed returns with minimal or no risk and offer exclusive access to insider tips and investment training.

They may request personal or financial information or ask individuals to send money directly to them or a third party.

To avoid falling victim to such scams, the PSX warns the investing public to be cautious and alert to unsolicited investment advice from illegal social media groups and forums.

Trading in shares of listed companies should only be conducted through SECP-licensed securities brokers. A list of licensed securities brokers is available at this link.

The investing public is encouraged to regularly visit the official websites and social media pages of SECP, PSX, CDC, and NCCPL to stay updated and make informed investment decisions.

The official websites and accounts of PSX are as follows:

• psx.com.pk

• Facebook

• Instagram

• X

• LinkedIn

• YouTube

• TikTok

• WhatsApp

In light of this warning, the PSX advises the general public not to deposit, invest, or engage with illegal and unauthorized groups or forums on social media.

The PSX shall not be held responsible for any loss or damage incurred by any individual due to unauthorized use of its intellectual property or misrepresentation, including interactions with unauthorized social media pages, posts, web groups, or WhatsApp groups.