SECP warns about fraudulent trading platform

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has issued a public alert regarding a fraudulent trading platform operating under various names, including ‘Aviva Investment Group’, ‘H1-Aviva Securities Exchange Academy’, and ‘Aviva Investment Limited’.

The platform has been aggressively marketed through WhatsApp groups and social media, falsely promising significant returns from trading on the Pakistan Stock Exchange and international markets.

The SECP has confirmed that this illegal platform is not affiliated with Aviva Investors, the well-known UK-based asset management company. Aviva Investors has also issued a scam warning on its official website, stating that the fraudulent operators are misappropriating the company’s name to carry out unauthorized trading activities in Pakistan.

The SECP emphasizes that ‘Aviva Investment Group’, ‘H1-Aviva Securities Exchange Academy’, and ‘Aviva Investment Limited’ are not registered or licensed by the SECP to operate any trading platforms for the PSX or any international exchanges.

The SECP strongly warns against depositing or investing funds with these companies. It also added that the names of these entities have been added to the ‘List of Companies Engaged in Unauthorized Activities’ on the SECP’s website. The SECP has referred the case to relevant authorities for further investigation and action.