The Securities and Exchange Commission of Pakistan (SECP), from time to time, issues public warnings to raise awareness among the general public regarding typologies of potentially fraudulent activities perpetrated by companies or entities/individuals posing as legitimate incorporated persons that come to its attention. The objective is to educate public, enabling them to recognize and avoid falling prey to deceptive practices.
On the basis of information available on social media and complaints/queries received recently it is observed that following typical business models are being used to lure public;
Mobile/web-based apps promising lucrative profits/referral bonuses on deposits/investments;
Seeking deposits in the name of making investments on your behalf in different products and promise lucrative return like investments in Surface Mount LED (SMD) screens, trading of different products/forex/cryptos;
