Investment fraud

Investment scammers exploit people’s lack of knowledge and trust to lure them into investing in stocks or cryptocurrencies under false pretenses. People often send large sums of money to scammers who make enticing promises, but when they try to withdraw their funds, it is either impossible, or the balance suddenly disappears.

Investment scams are frequently advertised on social media, sometimes endorsed by well-known individuals, and scammers may even call people directly. They present themselves as friendly advisors who genuinely want to help people grow their money. Using complex and professional language, they offer various investment opportunities, often involving cryptocurrencies. The websites they direct people to are often highly convincing and appear very professional. In some cases, people are asked to grant remote access to their computer or online bank accounts, often using software like AnyDesk. Never give someone such access unless you can trust them completely.

Investment scams are sometimes a part of dating frauds. Once the fraudster have established a relationship or friendship with their target, they might offer their advice on trading, or claim to know about profitable opportunities.

1. Contact your bank or financial service provider

Contact them as soon as you can. The likelihood that they can stop a payment depends on how quickly they can respond.

2. Report to the police

The report you can give the police permission to request information about the fraud from the bank or financial service. This helps with the investigation. You can report here or at the nearest police station.

Good Practices

• Approach investment advertisements with a critical eye.

• Only invest through official and authorised institutions. Use websites like Scam Adviser to check the legitimacy of platforms.

• Do not invest in things you don’t understand.

• Be very cautious when sending money to foreign investors. Once the money leaves the country, it is nearly impossible to recover it.

• If you have already invested and notice the investor requesting payments to multiple bank accounts, it is a clear sign of a scam.

• Don’t fall for smooth sales pitches. If something sounds too good to be true, it likely is.

• Be careful with your card details and identification. Scammers target this information to open accounts in others’ names to hide money trails.

• Two heads are better than one. Talk to people around you about these matters and get their opinions. If you were told to keep the transactions secret, it is likely a scam.

• Always use secure passwords and multi-factor authentication. Passkeys are safer than passwords, and security keys on USB devices offer the highest level of protection.

• Learn more about how to secure your online safety.