ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has established a new Corporate Intelligence Unit to monitor illegal financial activities and strengthen efforts to detect fraudulent investment schemes, it was reported on Wednesday.
According to the SECP, the unit will closely monitor suspicious financial activities and operate directly under the supervision of the commission’s chairman.
The initiative aims to identify schemes that put public savings at risk before they cause significant financial losses. The unit will track suspicious activities across social media platforms, digital advertisements and news reports to identify potential signs of fraud.
Its monitoring will focus on Ponzi and pyramid schemes, as well as companies that accept deposits or provide loans without the required licences.
SECP Chairman Dr Kabir Ahmed Sidhu said the timely detection of fraud could help protect investors from financial losses.
He said the commission would use open-source information to develop regulatory evidence and conduct risk-based monitoring to identify suspicious activities more effectively.
The new unit is intended to strengthen the SECP’s ability to identify potential financial misconduct and support action against illegal schemes.
