IGI Holdings warns against fake "G45 IGIL Securities" groups

November 29, 2024 (MLN): IGI Holdings Limited (PSX: IGIL) has issued a warning regarding social media platforms and WhatsApp groups under the name "G45 IGIL Securities Discussion," which are impersonating IGI Finex Securities Limited.

IGIL, the parent company of IGI Finex Securities, has categorically clarified that these groups are neither affiliated with nor endorsed by IGI Finex Securities Limited, its associated companies, or its holding company.

The company further stated that it is investigating the matter and has already initiated legal action to address the unauthorized use of the IGI Finex Securities Limited name.

Additionally, a fraudulent mobile application titled “IGIL” has been published on Google Play Store, falsely representing IGI Finex Securities Limited.

This app is not authorized by IGI Finex Securities Limited, its associated companies or its holding company - IGI Holdings Limited.

IGI Finex Securities Limited has also notified of the fraudulent activity by publishing a Public Notice on its website.

Yesterday, the Securities and Exchange Commission of Pakistan (SECP) also notified of the respective illegal trading platform.

The platform is being promoted through social media and WhatsApp Groups falsely claiming to be a legitimate company and promising substantial returns on trading in the Pakistan Stock Exchange (PSX) and international stock markets while fraudulently impersonating IGI Securities, it said.

Read: SECP flags “IGIL Securities” as illegal trading platform impersonating “IGI Securities”

Copyright Mettis Link News