Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has identified several unauthorized individuals and groups promoting illegal investment and trading platforms through social media and WhatsApp groups. The regulator has warned the public to avoid investing in such schemes, particularly those misusing the names of licensed brokerage houses, celebrities, financial influencers, and brokerage executives.
According to the SECP, these fraudulent entities are impersonating licensed securities brokers and using digitally altered images of public figures to attract investors. The commission has specifically flagged a mobile and web-based application operating under the name TSLWEA/TSL WEALTH, which is falsely presenting itself as being associated with Top Securities Limited, a licensed broker.
In addition, a WhatsApp group titled A103 – Topline Stock Strategies Hub has been found promoting the TSLWEA/TSL WEALTH application by linking it to Top Securities Limited, despite having no connection with the firm. SECP clarified that the said application is neither licensed nor authorized to operate any investment or trading platform for the Pakistan Stock Exchange (PSX) or any other regulated market.
The regulator further noted that social media has recently seen an increase in AI-generated advertisements featuring images of celebrities, finfluencers, and officials of well-known brokerage houses. These misleading ads lure people into joining WhatsApp groups under the guise of guidance for investing in listed companies.
SECP strongly cautioned the public that such groups are illegal and expose individuals to significant financial risk. For safe and legitimate trading, the public is advised to deal only with SECP-licensed securities and futures brokers. Lists of licensed brokers are available on the official websites of PSX and PMEX.
The commission urged investors to exercise vigilance, avoid fraudulent platforms, and verify the authenticity of any investment service before sharing money or personal information. SECP added that details of the identified illegal platforms have been reported to Google, PTA, and law-enforcement agencies.
The public has been strictly warned not to deposit funds or engage in any form of investment through TSLWEA/TSL WEALTH or any individuals or groups promoting illegal trading platforms.
