Securities Commission of Papua New Guinea (SCPNG) Participates in Cyber Security Awareness Month Program to combat Investment Scams.

The Securities Commission of Papua New Guinea (SCPNGSCPNG Securities Commission of Papua New Guinea) was invited to take part in the National Cyber Security Awareness Month (October) program, facilitated by National Information and Communications Technology Authority (NICTA) and the Department of Information and Communications Technology (DICT). The simulcast talkback show was hosted by National Broadcasting Corporation (NBC) and sponsored by Nambawan Super Limited.

The program is a community-oriented event that is held annually to raise awareness about cyber security.

SCPNG’s involvement aimed to protect potential investors, especially in the digital era, by educating them on the tactics used by scammers and how to recognize the features of an investment scam.

Mr. Zomay Apini, Manager Market Data and OIC Licensing and Supervision, expressed the Commission’s appreciation to NICTA and Nambawan Super for organizing and sponsoring the program. He emphasized that investment scam awareness is an ongoing priority for SCPNG, and the Commission continues to carry out awareness programs to educate the public.

He noted that reports and complaints of investment scams highlight the importance of sustained public engagement, and that participating in collaborative programs like this is a key part of SCPNG’s broader investor protection strategy.

He said that the issue is currently critical in Papua New Guinea, as many individuals fall victim due to lack of awareness, ignorance, or social influence, even after seeing warning notices issued by SCPNG and the Bank of Papua New Guinea (BPNG).

Mrs. Joy Komba, Director of Research and Publications, added: “Even public servants and educated individuals are scammed, maybe because they’re seeking investment opportunities and are unaware of legitimate avenues.”

Mr. Apini shared practical tips on how to identify and avoid scams and outlined several common tactics used by scammers:

1. Fake websites with suspicious URLs.

2. Phishing links that appear in search results and request personal information.

3. Unregulated trading apps that lure users into downloading and investing.

He emphasized the importance of being cautious when sharing personal information online and urged the public to stay informed about technological developments.

SCPNG recently became a member of the International Organization of Securities Commissions (IOSCO) and plans to leverage its regulatory tools to strengthen investor protection and combat scams more effectively.

Mr. Apini also called for inter-agency collaboration, noting: “While we protect investors and can identify features of an investment scam, it can go beyond SCPNG’s jurisdiction. We need collaboration from agencies like National Information and Communications Technology Authority (NICTA), Department of Information and Communications Technology (DICT), Independent Consumer and Competition Commission (ICCC), Bank of Papua New Guinea (BPNG), and others.”

The Commission urges the public to verify any investment entities, companies, or individuals offering or promoting investment opportunities with SCPNG and BPNG before committing any funds.

For any queries, contact the SCPNG on the following:
Phone: +675 321 2224
Email: quiries@scpng.gov.pg or ask@scpng.gov.pg
Website: https://www.scpng.gov.pg/
Office: MRDC Haus, Level 2, Town, Port Moresby