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Online fraud is becoming increasingly sophisticated and harder to detect. Fake emails or text messages sent out en masse to get you to hand over your bank details are now sharing the spotlight with more sophisticated methods such as fake investment fraud. Let's get to the bottom of this issue.


Fake investment scams cover a wide range of products such as savings books, rare earths, diamonds, Forex trading, cryptocurrencies and others. Under the guise of guaranteed income and investments with no risk of capital loss, scammers promote bogus products, often masquerading as legitimate financial institutions. In a healthcare crisis, with telecommuting on the rise and savings rates increasing, fraud is becoming more realistic and sophisticated. Fraudsters use social engineering or 'psychological hacking' to let down the victim's guard and convince them to invest.

The scenario can unfold in two ways: either you refuse the offer and avoid the scam, or you agree and make the first transfer. In the latter case, the scammer may temporarily return a small profit to you so that you continue to invest. Later, when you try to withdraw your investment, the scammer may claim that the investment was risky and the money was lost, or simply stop contacting you.


Your best ally in defending yourself against fraudulent investments is yourself. It's important to give yourself time to think and do your research before any investment to keep your savings safe. You should be especially vigilant if a 'financial advisor' asks you to transfer money to accounts overseas or make unusual transactions online. If the offer seems too tempting, it should already arouse suspicion and be the first warning.

• Call or make an appointment with your financial adviser to discuss the matter;
• Check the email addresses of your contacts and the name of the website used by fraudsters to view your assets: carefully compare these internet addresses with those of legitimate institutions - there is only one difference;
• Check whether the person you are dealing with is on the register of approved financial agents or the insurance register. Even if the company your interlocutor represents is accredited, do not let your guard down, as most scammers cover themselves with the image of real institutions. Contact the company through the contact details listed on its official website to check if such investments exist;
• Make a callback to legitimate institutions from the official directory and ask to speak to the person you are dealing with: they usually exist, but they are not the same person.

If you have just made a transfer and it has not yet been debited from your account, contact your bank immediately to try to suspend the transaction. Keep in mind that amounts transferred to foreign accounts, especially to countries with less stringent legal regulations, are almost impossible to recover. It is then important to file a complaint and report the incident to the appropriate authorities to prevent future fraud. Be as vigilant as possible to avoid similar situations in the future.