IGI Holdings Limited, the parent company of IGI Finex Securities Limited, has alerted the public about the unauthorized and fraudulent use of its subsidiary’s name on social media platforms and mobile applications.
The company has stated that it has no affiliation with these fraudulent activities and has initiated legal actions against the misuse.
According to a notice submitted to the Pakistan Stock Exchange (PSX), IGI Holdings disclosed that individuals have created fake WhatsApp groups under the name “G45 IGIL Securities Discussion,” impersonating IGI Finex Securities Limited. The company categorically denied any connection to these groups, stating that they are not endorsed by IGI Finex Securities Limited or its parent company.
Additionally, IGI Holdings reported the unauthorised publication of a mobile application titled “IGIL” on the Google Play Store, falsely representing IGI Finex Securities Limited.
The company clarified that the app has not been authorized by IGI Finex Securities Limited, its affiliates, or IGI Holdings Limited. The fraudulent activity has been highlighted in a public notice published on the company’s website.
The company urged all investors and the general public to verify the authenticity of any social media platforms, WhatsApp groups, or accounts claiming association with IGI Finex Securities Limited before making investment or monetary decisions.
IGI Holdings emphasized its commitment to disclosing relevant information to stakeholders in compliance with applicable laws and regulations. The company further warned individuals to exercise caution and take necessary steps to confirm the authenticity of any communications involving IGI Finex Securities Limited.
