ISLAMABAD – 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 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.
