PSX warns public against online trading fraud

The Pakistan Stock Exchange Limited (PSX) issued a warning to the public on Wednesday regarding an increase in fraudulent schemes being promoted across various social media platforms.

According to a press release from PSX, several unauthorized groups and forums on platforms such as WhatsApp, Facebook/Meta, and others are using artificial intelligence (AI) technology alongside traditional methods to deceive investors.

These groups falsely claim affiliation with registered professionals or legitimate companies, enticing individuals to participate in unapproved investment schemes.

These scams often appear credible, as fraudsters use official logos, images, and names, impersonating top-level management to mislead the public. 

The PSX urged the public to remain vigilant against unsolicited investment advice, especially from illegitimate social media sources.

It further said that any trading in shares of listed companies should only be conducted through brokers licensed by the Securities and Exchange Commission of Pakistan (SECP). A full list of licensed brokers can be found on the PSX website:

https://www.psx.com.pk/psx/resources-and-tools/TREC-Holders

For up-to-date and reliable information, the public is encouraged to visit the official websites and social media pages of SECP, PSX, CDC, and NCCPL:

PSX Website: psx.com.pk

Facebook: https://www.facebook.com/Pakistanstockexchangelimited

Instagram: https://www.instagram.com/pakistanstockexgltd/

X (Twitter): https://x.com/pakstockexgltd

LinkedIn: https://www.linkedin.com/company/pakistanstockexchangelimited/

YouTube: https://www.youtube.com/c/PakistanStockExchangeLimited

TikTok: https://www.tiktok.com/@pakstockexgltd?_t=8neqeX6PVwG&_r=1

WhatsApp: https://wa.me/9221111001122?text=Hi

PSX also warned the public not to engage with, invest in, or deposit money with unauthorized groups or forums on social media.