AHL, PSX warn investors amid spike in digital scams

November 27, 2025 (MLN): Amid a surge in online financial scams targeting retail investors, Arif Habib Limited (AHL) has issued a strong public warning against a fraudulent scheme falsely claiming affiliation with the brokerage giant.

The firm described the activities as “misleading information,” “false information,” and “fraud,” urging the public to exercise heightened caution.

The advisory identifies an individual, Fawad Ahmed Latif, claiming to be the Chief Investment Officer (CIO) of “Pitics Investment Management LLC”, who is allegedly soliciting funds from investors while misrepresenting a partnership with AHL.

The individual is said to be collecting money for brokerage and other services, falsely assuring investors that their funds will be deployed through AHL, potentially via the Pakistan Stock Exchange (PSX).

AHL has firmly denied any affiliation with Latif or Pitics Investment Management LLC, stressing that the firm has no link, partnership, or business arrangement with the individual or his claimed institution.

In response, AHL has initiated steps to prevent further investor harm. The management has:

• Informed banks about fraudulent accounts, opened under misleading titles such as “AHL Management” and “AHL Services.”

• Alerted regulators about the fraudulent activities and misrepresentations.

• Shared details of the known fraudulent bank account and screenshots from WhatsApp groups allegedly connected to the scheme.

AHL reiterated that accounts opened through these channels are not AHL accounts, and the firm bears no responsibility for investments made through unauthorized avenues.

On the same day, the Pakistan Stock Exchange (PSX) issued a separate investor alert, warning the public about fraudulent investment schemes gaining momentum on social media platforms.

PSX noted that scammers increasingly impersonate senior corporate executives or claim affiliation with licensed firms to lure individuals into unauthorized investment opportunities.

These groups often demand membership fees, offer exclusive insider tips, or promise guaranteed returns, creating an illusion of legitimacy through the use of official logos, corporate names, and manipulated identities.

The exchange listed several indicators of potential fraud, urging investors to stay vigilant:

• Requests for transferring funds to private or third-party bank accounts.

• Claims of exorbitant or guaranteed returns with minimal or no risk.

• Pressure to invest quickly or urgently.

• Emails, URLs, or profiles containing spelling errors or mimicking registered entities.

• Unsolicited investment recommendations from unverified sources.

PSX and AHL advised investors to verify all investment professionals and entities on official SECP and PSX platforms, avoid sharing personal or financial data with unknown individuals, and perform proper due diligence before investing.

The alerts come as Pakistan’s financial regulators face an uptick in cyber-enabled scams exploiting social media visibility and investor trust.

Both institutions stressed that staying informed and cautious is essential to avoiding significant financial losses.

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