KARACHI – The Securities and Exchange Commission of Pakistan (SECP) has issued a stern warning about fraudulent investment schemes being promoted through social media and WhatsApp Groups.
Several mobile apps claim to provide AI-based stock trading systems, often featuring images of celebrities, financial influencers, and brokerage executives. However, these apps are fake and pose serious risks to investors.
The SECP highlighted the app “TSLWEA/TSL WEALTH,” which impersonates the licensed broker Topline Securities Limited. The app is being promoted through WhatsApp Groups such as “A103-Topline Stock Strategies Hub,” falsely claiming affiliation with Topline Securities.
Authorities confirmed that TSL WEALTH is not licensed to operate investment or trading services for the Pakistan Stock Exchange (PSX) or any other regulated market. Investors participating in these WhatsApp Groups risk losing their money.
“AI-generated social media ads are exploiting images of celebrities and legitimate brokerage executives to mislead the public,” SECP said. These ads encourage users to join WhatsApp Groups promising high returns, but they are part of a wider scam.
The SECP has advised investors to use only licensed securities and futures brokers listed on official PSX and PMEX websites. Users are urged to verify any trading service before investing funds or sharing personal information.
SECP has reported the fraudulent apps and WhatsApp Groups to Google, the Pakistan Telecommunication Authority (PTA), and law enforcement agencies to take immediate action.
Investors are also cautioned to avoid any unsolicited messages on WhatsApp Groups promising guaranteed profits, especially those claiming links with popular influencers or licensed brokers.
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By remaining cautious and verifying the authenticity of brokers and apps, investors can protect themselves from falling victim to scams circulating on WhatsApp Groups and social media.
