SCPNG Participates in CPCCC to Strengthen Consumer Protection and Market Integrity.

The Securities Commission of Papua New Guinea (SCPNGSCPNG Securities Commission of Papua New Guinea) joined 32 public and private sector agencies at the Competition, Consumer Protection and Compliance Commission (CPCCC) forum, the country’s only national platform dedicated to discussions on competition, consumer protection, price regulation, and industry oversight.

Hosted annually by the Independent Consumer and Competition Commission (ICCC), the CPCCC serves as a vital consultative space where regulators, businesses, and government departments collaborate on pressing national issues. This year’s forum, held under the theme “Strengthening Public-Private Dialogue for Robust Industry Compliance,” marked a milestone with the inclusion of consumer advocacy groups — a strategic move aimed at deepening engagement on consumer protection matters.

Representing SCPNG, Mr. Zomay Apini, Manager of Market Data and Officer in Charge, Licensing and Supervision Division, delivered a presentation on the Commission’s efforts to combat fraudulent investment schemes. He outlined the growing threat of scams such as Ponzi and Pyramid schemes, fake cryptocurrency platforms, and phishing attacks, many of which are propagated through social media channels like Facebook, WhatsApp, TikTok, and other online platforms.

SCPNG’s Approach to Safeguarding Investors

• Public Complaints: Citizens can report suspicious activity via the Online Scam Alert Portal or email queries@scpng.gov.pg

• Market Surveillance: Continuous monitoring of financial activity for irregularities

• Investigations: Formal probes initiated when red flags are detected

• Licensing Enforcement: Entities must meet strict regulatory standards and pass fit-and-proper checks

Despite these efforts, SCPNG acknowledged ongoing challenges, particularly with offshore operators and limited public awareness. To address these issues, the Commission is strengthening its strategy through cross-border cooperation, digital monitoring, public education campaigns, and legislative reform.

The CPCCC also featured presentations from other key institutions including NICTA and PNGPNG Papua New Guinea DICT, contributing to a rich dialogue on regulatory best practices and consumer empowerment.

The Securities Commission of Papua New Guinea (SCPNG) commended the Independent Consumer and Competition Commission (ICCC) for hosting the forum and emphasized the importance of continued collaboration among regulators, businesses, and stakeholders.

As Papua New Guinea celebrates 50 years of independence, SCPNG remains committed to building a transparent, secure, safe, and inclusive investment environment for all citizens.