The Securities and Exchange Commission of Pakistan (SECP) has uncovered an illegal investment and deposit-taking platform operating under the name “SMARTPAYS.” In a press release issued on Tuesday, SECP warned that the platform falsely claims to offer substantial returns on investment through schemes promoted on its website.
The platform also falsely asserts that it is a licensed non-banking finance company, displaying a fake Certificate of Incorporation for “SMART FINANCE (PRIVATE) LIMITED.” However, SECP clarified that neither “SMARTPAYS” nor “SMART FINANCE (PRIVATE) LIMITED” is registered or licensed by the commission as a non-banking finance entity.
The public is advised to avoid depositing or investing funds in “SMARTPAYS” or any other unauthorized investment platforms. SECP has added the entity to its “List of Companies Engaged in Unauthorized Activities” and has referred the case to relevant investigative authorities.
Pakistan is expected to witness the sacrifice of more than 6.97 million animals during Eid-ul-Adha…
Pakistan's two IT entrepreneurs-- Mehwish Salman Ali and Malik Mudassir—will receive funding of $10 million…
Spotify has announced a major milestone for 2025 - 10 years of Fresh Finds, the…
Sindh’s Minister for Law and Home Affairs, Ziaul Hassan Lanjar, has approved sweeping changes to…
Today, the world is changing rapidly more so than ever before with disruptive technological development…
Aeon & Trisl Real Estate Group has once again claimed the coveted title of Emaar’s…
This website uses cookies.