{"id":80994,"date":"2021-10-30T09:03:00","date_gmt":"2021-10-30T04:03:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=80994"},"modified":"2021-11-01T15:58:52","modified_gmt":"2021-11-01T10:58:52","slug":"secp-warns-against-investment-in-ponzi-schemes","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/secp-warns-against-investment-in-ponzi-schemes.html","title":{"rendered":"SECP warns against investing in online ponzi schemes"},"content":{"rendered":"\n<p>Islamabad: The Securities and Exchange Commission of Pakistan (SECP) on Thursday (October 28) has issued warning for  the citizens to not invest in Ponzi and easy profit schemes, news sources reported. In its warning, the SECP has warned that some companies are operating in the country with false claims of being registered and authorised by SECP, which is against the facts.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/secp-statistics-businesses-july.html\" target=\"_blank\" rel=\"noreferrer noopener\">SECP reports hike in registrations of construction-related business<\/a><\/p>\n\n\n\n<p>It is the SECP&#8217;s second warning to the public in the last year regarding investing in schemes based on pyramid marketing models, referral marketing, Multi-level marketing (MLM), and foreign exchange investment schemes. According to Section 301 of the Companies Act, 2017, running an MLM, Pyramid, and Ponzi Schemes are illegal activities.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/secp-shares-statistics-on-licenses-issued-to-hfcs-for-promoting-housing-sector.html\" target=\"_blank\" rel=\"noreferrer noopener\">SECP shares statistics on licenses issued to HFCs for promoting housing sector<\/a><\/p>\n\n\n\n<p>The authorities have also urged the general public to avoid investing in such firms since they are not authorised nor have stakes in the country, making it more difficult to prevent and recoup from financial losses. According to the <a href=\"https:\/\/www.zameen.com\/news\/secp-first-sharia-compliant-reit-introduced.html\" target=\"_blank\" rel=\"noreferrer noopener\">SECP<\/a>, the government has also taken legal action against such ponzi schemes in the public interest.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Securities and Exchange Commission of Pakistan (SECP) on Thursday (October 28) has issued warning for the citizens to not invest in Ponzi and easy profit schemes, news sources reported. In its warning, the SECP has warned that some companies are operating in the country with false claims of being registered and authorised by SECP, which is against the facts. Read: SECP reports hike in registrations of construction-related business It is the SECP&#8217;s second warning to the public in the last year regarding investing in schemes based on pyramid marketing models, referral marketing, Multi-level marketing (MLM), and foreign exchange investment schemes. According to Section 301 of the Companies Act, 2017, running an MLM, Pyramid, and Ponzi Schemes are illegal activities. Read: SECP shares statistics on licenses issued to HFCs for promoting housing sector The authorities have also urged the general public to avoid investing in such firms since they are not authorised nor have stakes in the country, making it more difficult to prevent and recoup from financial losses. According to the SECP, the government has also taken legal action against such ponzi schemes in the public interest.<\/p>\n","protected":false},"author":75,"featured_media":75882,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016,15017],"tags":[49212,26299],"persona":[],"class_list":{"0":"post-80994","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"category-notices-announcements","9":"tag-secp-warns-against-investing-in-ponzi-online-investment-schemes","10":"tag-securities-and-exchange-commission-of-pakistan-secp","11":"cat-15016-id","12":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SECP warns against investing in online ponzi schemes - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Securities and Exchange Commission of Pakistan (SECP) on Thursday (October 28) has issued warning for the citizens to not invest in Ponzi\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/secp-warns-against-investment-in-ponzi-schemes.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SECP warns against investing in online ponzi schemes - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Securities and Exchange Commission of Pakistan (SECP) on Thursday (October 28) has issued warning for the citizens to not invest in Ponzi\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/secp-warns-against-investment-in-ponzi-schemes.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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