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.
inDrive, a global mobility and urban services platform, has joined hands with Essa Labs to…
tapmad Entertainment has cemented its position as a pioneer in Pakistan’s digital entertainment space, not…
Airblue, one of the country’s leading private airlines, has announced a 14% discount on selected…
The Pakistan eCommerce Association (PEA) has urged the government to reduce the tax burden on…
From highlighting the need for affordable smartphones and universal internet to pushing for a cashless,…
Kaspersky research findings show that 42% of children surveyed from the Middle East, Turkiye and…
This website uses cookies.
