Islamabad: (RightNow) The Securities and Exchange Commission of Pakistan (SECP) has established a new unit to prevent financial fraud schemes. This unit is dedicated to monitoring financial activities.

The Corporate Intelligence Unit will closely monitor suspicious financial activities. It will promptly identify schemes that endanger public savings. Ponzi and pyramid schemes, along with unlicensed deposit-taking companies, will be under surveillance.

According to SECP, the unit will track suspicious activities in social media, digital advertisements, and news. This will enable timely fraud detection and protect investors from potential losses.

Officials have stated that open-source information will be converted into regulatory evidence for risk-based monitoring. The Corporate Intelligence Unit will operate under the direct supervision of the SECP Chairman.

It is noteworthy that financial fraud schemes have posed significant risks in Pakistan in recent years, making SECP’s measures crucial for prevention.