Papua New Guinea’s national stock exchange has issued an urgent warning over fraudulent social media accounts impersonating the exchange and its staff, highlighting the growing threat that online investment scams pose to investor confidence and the country’s capital markets.
Papua New Guinea’s capital markets regulator and financial institutions are urging investors to exercise greater caution online after PNGX Markets Limited warned that scammers are using fake Facebook pages to impersonate the national stock exchange and its employees.
In an urgent market release issued on 3 August, PNGX said multiple fraudulent Facebook pages were unlawfully using the exchange’s name, logo and official photographs to promote fake investment opportunities, cryptocurrency training programmes and financial education courses, while seeking personal information and money from unsuspecting members of the public.
The exchange said the scam pages falsely claim to represent PNGX and, in some cases, impersonate individual staff members in an effort to appear credible. Victims are reportedly encouraged to participate in “get rich quick” investment schemes, transfer money into personal bank accounts or provide sensitive financial and identification details.
PNGX stressed that it does not provide retail investment services, does not solicit payments through social media, does not request personal banking information and does not offer cryptocurrency training. The exchange urged the public to verify any communication through its official website or approved communication channels before responding.
The warning comes as investment scams become increasingly sophisticated across the Pacific, with fraudsters frequently exploiting the names and branding of trusted financial institutions to build credibility. The rapid growth of social media has made it easier for criminals to create convincing fake profiles that can reach thousands of potential victims within a short period.
For Papua New Guinea’s capital market, protecting investor confidence is critical. PNGX has been working to broaden participation in the country’s securities market and encourage greater public understanding of investing. Fraudulent schemes that misuse the exchange’s identity risk undermining confidence among first-time investors and damaging the reputation of legitimate financial institutions.
PNGX has urged anyone who encounters suspicious pages or messages to report them immediately to Facebook and the Securities Commission of Papua New Guinea and to verify that investment providers are licensed by the Securities Commission or the Bank of Papua New Guinea before committing funds.
The exchange also published examples of fake Facebook pages to help the public identify fraudulent accounts and reiterated that all official communications are made only through its authorised website, social media channels and corporate email addresses.
