Karachi, October 02, 2024 – Pakistan Stock Exchange Limited (PSX) alerts the investing public regarding the surge in fraudulent activities through different social media platforms. Some illegal social media groups and forums are using AI technology and conventional methods to entice the investing public to join in or fill in forms through WhatsApp groups, Facebook/ Meta and other social media channels.
The scammers 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. Scammers’ correspondence might often look authentic as such scammers use the regulator name, logo, and images, as well as impersonate as part of top management and proprietary material which looks official.
The fraudulent groups and forums promise guaranteed fixed returns with minimal or no risk and provide exclusive access to insider tips and training on investments. They also ask to share personal or financial information or to send money directly to the individual or a third party.
To avoid becoming a victim of such types of scams, the investing public is warned to be wary and alert of unsolicited investment advice from illegal social media groups and forums.
