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Don't get fooled by investment fraud

Investing can be a smart way to grow your money, but unfortunately there are also fraudsters who take advantage of your trust. Investment fraud is increasingly common, especially online, and can result in significant financial losses. For the victims, the emotional and psychosocial consequences are not to be underestimated either.

What is investment fraud?

Investment fraud involves scams where criminals try to convince you to invest money in non-existent or fake financial products (crypto, forex, etc.). They often promise high returns with little risk, but it is actually a trap to steal your money. After receiving your money, these fraudsters often disappear without a trace.

How do these scammers approach you?

Investment fraudsters use a variety of ways to make contact with their victims. Some commonly used methods include:

  • Social media and ads: They advertise on Facebook, Instagram or YouTube with professional videos or famous faces (without the latter's permission) or they approach you through a personal message on one of your social media channels. It also happens that influencers advertise fraudulent investments.
  • Fake websites or platforms: They create professional, fake websites that appear legitimate, including fake reviews.
  • Emails: You receive an email with an exclusive invitation to take part in a promising investment.
  • Dating websites and apps: They first build a bond of trust through a dating platform and then subtly shift the conversation to investment (known as pig butchering).
  • WhatsApp or text: They sometimes pretend to be a friend, family member or "investment coach" via messages.
  • Telephone: You get an unsolicited call with a supposedly interesting investment offer.
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How can you recognise investment fraud?

Watch out for the following warning signs:

  • Unsolicited contact: You are contacted by phone, email or social media.
  • Promises too good to be true: High profits are promised without any risk.
  • Pressuring to decide quickly: You are pressured to invest quickly.
  • No transparency: Little to no information is given about the product or provider. The provider is not licensed.
  • Unusual payment requests: You are asked to transfer money to foreign accounts or through unusual payment methods, such as crypto.
How can you avoid investment fraud?
  • Check the provider: Check whether the firm is licensed with the FSMA. Also check if the name appears on the list of untrustworthy companies . If you have any doubts about the provider who has contacted you, please contact the FSMA using the contact form.
  • Be critical: Has a nice investment opportunity appeared out of the blue? Always take time to eliminate any doubt or suspicion.
  • Ask for clear and understandable information from the provider. Don't invest in a financial product if you don't understand exactly what it entails.
  • Don't make any hasty payments: Take your time to research the offer and don't be pressured.
  • Protect your personal information: Never just share information about your identity, bank account details or other personal information.
  • Check in just a few minutes if you're dealing with a scammer. Take the fraud test Even if you think you know the provider, double check and also check the contact details of the company who has contacted you.  Many scammers fraudulently use the name of a familiar company that is licensed. Find more information here.
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More information and help

For more tips and information on how to protect yourself from investment fraud, visit the Wikifin website (French/Dutch only), where you can find independent, reliable and practical information on money matters.

Stay vigilant and don't be fooled by promises that are too good to be true. If in doubt, always contact the FSMA or your bank before investing.

Are you a victim of investment fraud? Read more here.

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