The Securities and Exchange Commission of Pakistan has issued a warning to the public after identifying unauthorized individuals and groups promoting illegal investment and trading applications through social media channels and WhatsApp groups. According to information shared through an official statement, these entities have been misusing the names of licensed securities brokers and circulating images of well known public figures, FinFluencers, and executives from established brokerage firms to create an impression of legitimacy. The deceptive practices have contributed to growing concerns about the rapid spread of unregulated investment schemes targeting unsuspecting users across digital platforms.
Among the platforms highlighted by SECP is a mobile and web application titled TSLWEA or TSL WEALTH. The regulator has confirmed that this application is impersonating the licensed securities broker Topline Securities Limited by using misleading branding and fabricated claims. In addition, a WhatsApp group operating under the name A103 Topline Stock Strategies Hub has been found to be falsely promoting the TSLWEA or TSL WEALTH application and asserting that it offers an AI based trading system connected to Topline Securities Limited. SECP clarified that the application has no authorization to operate in any capacity on the Pakistan Stock Exchange or any other regulated market. Officials emphasized that such unauthorized platforms can expose users to significant financial risks because they do not comply with regulatory standards for investor safety, transparency, or system integrity.
SECP’s statement further notes the increasing presence of AI generated promotions on social media, featuring manipulated advertisements that incorporate the likeness of celebrities, popular FinFluencers, and senior members of brokerage houses. These advertisements attempt to convince the public to join WhatsApp groups that claim to provide exclusive access to investment opportunities or insights into shares of listed companies. Investigators have observed that many of these groups use fabricated testimonials and manipulated visuals to generate trust, making it difficult for inexperienced investors to distinguish authentic services from deceptive platforms. SECP has stressed that all such groups are illegal and urged the public to avoid engaging with them in any capacity to prevent financial loss.
To support safe investing, SECP advises individuals to consult only those securities and futures brokers who are officially licensed. A complete list of authorized brokers can be accessed through the official websites of PSX and PMEX. Investors are encouraged to verify a platform’s regulatory status before providing any funds or personal information and to remain cautious when encountering unsolicited promotions online. SECP has already notified Google, PTA, and relevant law enforcement authorities about the unauthorized platforms identified so far. The regulator has also issued a strong caution advising the public not to deposit funds into the TSLWEA or TSL WEALTH application or interact with individuals associated with fraudulent investment platforms, as such involvement may lead to substantial financial harm. SECP reiterated that investor protection depends largely on vigilance, due diligence, and engagement exclusively with licensed and verified financial service providers.
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