Arif Habib Limited (AHL) and Pakistan Stock Exchange (PSX) have issued urgent warnings to investors amid a noticeable surge in online financial scams targeting retail participants. The advisory comes in response to a fraudulent scheme claiming association with AHL and soliciting investments through misrepresented channels. AHL described the activities as misleading, fraudulent, and deceptive, urging the public to exercise caution and verify all investment opportunities thoroughly.
The advisory specifically identifies an individual named Fawad Ahmed Latif, who is presenting himself as Chief Investment Officer of “Pitics Investment Management LLC” and allegedly soliciting funds under the pretext of a partnership with AHL. Investors were being told that their funds would be deployed through AHL, potentially using platforms such as PSX. AHL has categorically denied any association with Latif or Pitics Investment Management LLC, stressing that no partnership, arrangement, or business relationship exists with either the individual or the purported institution.
To prevent further investor harm, AHL has informed banks about fraudulent accounts registered under misleading titles such as “AHL Management” and “AHL Services,” while also alerting regulators about the misrepresentation. The firm has shared account details and screenshots from WhatsApp groups linked to the fraudulent activity, reiterating that any transactions through these channels are unauthorized and not the responsibility of AHL.
PSX also issued a separate alert highlighting the growing risk of scams on social media platforms, where perpetrators impersonate corporate executives or claim affiliation with licensed firms. The exchange noted that scammers often create an illusion of legitimacy using official logos, manipulated identities, and corporate branding. Common tactics include demanding membership fees, promising guaranteed returns, offering exclusive tips, and pressuring investors to act quickly. PSX outlined key warning signs, including requests for transfers to private accounts, claims of minimal-risk high returns, urgent investment demands, poorly constructed emails or profiles mimicking registered entities, and unsolicited investment recommendations from unverified sources.
Both AHL and PSX emphasized that investors should verify all professionals and entities via official SECP and PSX platforms, refrain from sharing personal or financial information with unverified individuals, and conduct proper due diligence before investing. The alerts underscore an emerging trend of cyber-enabled financial scams exploiting social media visibility and investor trust in Pakistan, highlighting the importance of vigilance, awareness, and informed decision-making.
With the increase of digital investment platforms and online financial services, the warnings serve as a critical reminder of the risks associated with fraudulent schemes. Authorities encourage investors to stay informed, adopt secure practices, and rely on official channels when making investment decisions. These measures aim to safeguard retail investors, strengthen confidence in regulated financial systems, and reduce the impact of cyber-enabled financial crimes in the country.
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