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May 22, 2025The Securities and Exchange Commission of Pakistan (SECP) has issued a public warning about fraudulent loan schemes being promoted through social media ads, particularly on platforms like Facebook.
Following a recent crackdown on 141 unauthorized digital lending apps, SECP reports that scammers have shifted to sponsored posts, falsely offering quick, interest-free loans while misusing the names of legitimate organizations to gain public trust.
Victims are lured into paying upfront fees—such as for registration or insurance—or are tricked into sharing sensitive personal information. Once the scammers receive payment or data, they vanish without providing any loans.
SECP is actively working with the FIA and PTA to report and remove these fraudulent ads. The public is urged to verify any financial offers and consult the official list of SECP-licensed entities and approved loan apps on the SECP website.
Source: https://pakobserver.net/scam-alert-issued-in-pakistan-about-fraudulent-loan-schemes-on-social-media/
