The Financial Services and Markets Authority (FSMA) is once again warning against fraudulent trading platforms that target online investors. Behind promises of quick and easy profits lie well-organised scams that can lead to significant financial losses.
Increasingly sophisticated techniques
Fraudsters are becoming ever more creative in their attempts to trap their victims. In particular, they use:
- advertisements for WhatsApp groups in which the scammers offer supposedly exclusive advice. These scammers impersonate well-known figures from the world of finance.
- fake adverts featuring well-known figures
- fictitious profiles on social media or dating apps
- online trading groups
- or even investment opportunities passed on by acquaintances
The aim is always the same: to build trust and promise unrealistic returns.
A well-oiled machine
These scams generally operate in several stages:
- An initial small investment (often around €250)
- An illusion of profits, thanks to rigged platforms
- Constant pressure to invest more
- Withdrawals blocked, under the pretext of fees or taxes
In some cases, scammers go as far as taking remote control of their victims’ computers, with additional risks of hacking.
A very real threat
To check whether a company is authorised or suspicious, check the provider on the FSMA website. But be careful: these lists are constantly changing and are never exhaustive.
What to do if in doubt or in the event of fraud?
If you find yourself in this type of situation:
- stop all payments immediately
- cut off contact with the fraudsters
- contact your bank without delay
- report the incident to the police and the FSMA
- keep all evidence (messages, screenshots, transactions)
Safeonweb campaign: Bill warns you
Last year, the Safeonweb campaign put a face to fraud victims with Bill, the money-bag, who unfortunately lost everything.
Through this campaign, Safeonweb reiterates a key message: fraudsters exploit trust, a sense of urgency and the illusion of easy gains to better trap you.
Before giving in to an investment opportunity:
- take the time to check the platform
- never let yourself be pressured
- and bear in mind that high returns without risk do not exist
