Pakistan Stock Exchange Limited (PSX) has issued an investor alert regarding the surge in fraudulent activities promoted through social media and WhatsApp groups under the guise of investment advice and training courses.

The scammers may 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.These fraudulent groups and media pages demand fees from individuals to grant them membership, promise exclusive access to insider tips, and provide training on investments. The major suspicions include requests to transfer money to a private or third-party account, promises of exorbitant profits, claims of no or minimal risk, and promises of providing valuable investment tips.

Scammers often use e-mail addresses or URLs similar to registered firms. Poor spelling and grammar in messages, account names, or URLs can be a sign of a scam. Always watch out for spelling mistakes in URLs and emails before opening any attachments or clicking on any links received through social media platforms. Conduct your own research, go through the relevant company’s financials, and perform proper due diligence before opting for such an investment opportunity.Investors are advised to regularly visit the official websites of SECP, PSX, CDC, and NCCPL to keep themselves updated and make well-informed and prudent investment decisions.