ISLAMABAD (Business Desk): The Securities and Exchange Commission of Pakistan (SECP) has established a Corporate Intelligence Unit to prevent financial fraud and protect public savings.
According to the SECP, the new unit will monitor suspicious financial activities, including Ponzi and pyramid schemes, unauthorized public fundraising and lending companies. The initiative aims to identify schemes that put public money at risk in a timely manner and help protect investors from financial losses.
According to an official statement, the Corporate Intelligence Unit will track suspicious financial activities through social media platforms, digital advertisements and news reports. It will also convert information gathered from open sources into legal and regulatory evidence and develop a risk-based monitoring system to enable the timely identification of illegal financial activities.
SECP Chairman Dr. Kabir Ahmed Sidhu said that the timely detection of financial fraud would help protect investors from losses.
According to the SECP, the Corporate Intelligence Unit will operate under the direct supervision of the chairman.