2 min read
The Securities and Exchange Commission of Pakistan (SECP) has raised a new alarm over a wave of online scams exploiting the country’s growing interest in digital trading. The regulator says several groups are using the names of licensed brokerage houses and the photos of celebrities, FinFluencers, and senior market executives to push illegal investment schemes.
According to the SECP, a mobile and web application called “TSLWEA/TSL WEALTH” is posing as a product of Topline Securities Limited. The app is not registered with the regulator and has no approval to offer trading or investment services on the Pakistan Stock Exchange or any regulated market. The SECP also points to a WhatsApp group titled “A103-Topline Stock Strategies Hub,” which falsely links the same app and an AI-based trading system to Topline Securities.
The regulator says its teams have seen a surge in AI-generated ads across social platforms. These ads feature doctored images of well-known figures and claim to offer quick stock returns. They direct users to WhatsApp groups that pretend to provide insider-level guidance on listed companies. The SECP notes that these groups are illegal and often cause heavy financial losses.
The commission is urging investors to stay away from the “TSLWEA/TSL WEALTH” app and any individuals promoting similar platforms. It stresses that only SECP-licensed securities and futures brokers are allowed to offer real trading services. Lists of licensed brokers remain available on the official websites of the PSX and PMEX.
The SECP has reported the fake app and related groups to Google, the Pakistan Telecommunication Authority (PTA), and law enforcement agencies. It advises the public to verify every platform before sharing money or personal information and to remain alert as online scams continue to evolve.
