ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has warned that unauthorised groups are promoting illegal online trading platforms by misusing the names of licensed brokerage houses and the images of celebrities, finfluencers, and brokerage executives.
The regulator said it has identified a mobile and web application titled “TSLWEA/TSL WEALTH”, which is falsely impersonating Topline Securities Limited. It also flagged a WhatsApp group named “A103-Topline Stock Strategies Hub” that is incorrectly linking the application and an AI-based trading system to the licensed broker.
The SECP clarified that “TSLWEA/TSL WEALTH” has no authorization or licence to operate any investment or trading service connected to the Pakistan Stock Exchange or any regulated market.
The Commission also noted a rise in AI-generated advertisements on social media using pictures of well-known personalities and brokerage officials to invite users into WhatsApp groups offering supposed investment opportunities in listed companies. The regulator said such groups are illegal and expose the public to serious financial risk.
The SECP advised investors to trade only through licensed securities and futures brokers listed on the official websites of the PSX and PMEX, and urged the public to verify the legitimacy of any investment service before sharing money or personal information.
The regulator has reported the fraudulent platforms to Google, the Pakistan Telecommunication Authority, and law enforcement agencies, and cautioned the public not to deposit or invest funds through the “TSLWEA/TSL WEALTH” platform or with any individuals promoting unregulated schemes.
