A recent investigation by cybersecurity specialist Group-IB has uncovered a large-scale investment scam targeting the UK and other countries in Europe, including the Netherlands, Germany, Portugal and Sweden, among others.
The researchers recently discovered a huge network with over 11,000 different domains established to promote bogus investment opportunities to users. The sites uncovered show invented stories of investors making gains and falsified celebrity recommendations to help hoodwink victims.
The criminals behind the scheme are using compromised social media accounts to promote the fake investment opportunity and reach the maximum number of potential victims. If investors intrigued by the option click on any of the linked ads included to find out more, they are redirected to malicious web pages filled with fake tales of success and prompted to input their contact details.
The investor then receives a call from a threat operator pretending to be a customer agent. They are then asked to make payment to participate in the scheme and given access to a webpage designed to look like an investment dashboard. Here, they are encouraged to invest further funds to reap larger rewards. However, the opportunity does not exist, and the victim’s money is stolen. Additionally, their contact details are also collected and either used in further schemes or sold to other criminals online.
With the help of an independent financial advisor, Chester investors and those based in other UK cities can sidestep investment scams. Able to offer expert and unbiased guidance, wealth managers can analyse opportunities and inspect them for legitimacy.
