By BUUMBA CHIMBULUINCREASED fraudulent activities are making it exceedingly difficult for regulators and law enforcers to stop fraudsters before any harm is caused, the Securities and Exchange Commission has noted.This is according to the Securities and Exchange Commission (SEC) Chief Executive Officer, Phillip Chitalu at the world investor week 2021 social media launch.“While online-based products present immense benefits to consumers, it is evident that fraudsters are using these same platforms to deceive people as they use them to perform their fraudulent activities – this has made many people and their investments vulnerable,” Mr Chitalu stated.In light of this, it becomes imperative that the best protection for an investor is empowerment by way of financial education and awareness aimed to assist investors in making informed financial decisions.Mr Chitalu stated that SEC was aware of the alarming increase in fraud and scams which to a large extent was an indication of the lack of knowledge and capacities for investors to discern genuine […]
‘Rampant fraud worrying’
