Don’t fall for the trap! Scammers are now using flashy Facebook ads and fake names to lure people with promises of “quick, interest-free loans.” The Securities and Exchange Commission of Pakistan (SECP) has issued an urgent warning to the public about this new wave of digital financial fraud.
🕵️♂️ From Apps to Ads: Fraudsters Shift Tactics
After a successful crackdown on 141 unauthorized digital lending apps, scammers are shifting their operations to social media platforms, especially Facebook. 🚩
They’re now using sponsored ads that:
- Offer instant, interest-free personal loans
- Require little to no documentation
- Impersonate reputable organizations to appear legitimate
These fake promotions are designed to gain your trust — and your money.
💸 What Really Happens?
Once victims show interest, they’re asked to pay upfront charges disguised as:
- Processing fees
- Registration costs
- Insurance or account verification fees
Some are even tricked into sharing sensitive personal or financial information. Once the money or data is handed over — the fraudsters vanish. No loan, no refund, and no way to contact them again. 😡
⚠️ SECP’s Response: Action & Public Awareness
To combat this, SECP is actively:
- Reporting fraudulent ads and platforms to FIA and PTA
- Requesting the removal of these scams from social media
- Urging the public to verify any loan offer before engaging
🧠 Remember: If it sounds too good to be true, it probably is.
✅ How to Stay Safe
Here’s what you can do to protect yourself:
- Avoid offers that promise “instant, interest-free loans.”
- Never pay upfront fees for a loan.
- Don’t share personal info with unverified sources.
- Verify platforms through official SECP resources.
- Report suspicious activity to SECP, FIA, or PTA.
🔗 You can check the official list of licensed companies and SECP-approved loan apps on the SECP website.
🚫 Don’t Let Scammers Steal Your Trust
As fraudsters evolve, staying informed is your best defense. Always do your homework before engaging with any loan service online. Share this warning with friends and family to spread awareness!
📢 Have you seen a suspicious ad? Report it.
🔍 Want to verify a loan app? Visit SECP’s official portal.
