SEC ups fight against fraud

TRYNESS TEMBO
Lusaka
IN ITS efforts to stop Ponzi schemes, Securities and Exchange Commission (SEC) has increased awareness aimed at protecting investors.
Recently, there have been several cases of people being scammed through Ponzi schemes.
SEC acting chief executive officer Diana Sichone said this surge in fraudulent activity, however, indicates a thriving investment appetite within the country.
“While the capital market flourishes, addressing low levels of awareness and combating fraudulent schemes like Ponzi schemes remain crucial challenges,” Ms Sichone said in response to a query.
She also said Collective Investment Schemes (CIS’s) recorded a significant increase this year by driving a 64 percent increase in the number of investors, to surpass 494,000 by the third quarter…https://enews.daily-mail.co.zm/welcome/home