Authorities Warn of Online Investment Scams Using Social Media and Messaging Apps

Law enforcement agencies warn about online investment scams targeting individuals through text messages, social media, and dating apps, according to a recent advisory.

Scammers often pose as acquaintances or send messages claiming mistakes or romantic interests to gain trust. Once trust is established, they promote supposed “guaranteed” investments, frequently involving cryptocurrency. Many victims see fake profits, but once large sums are invested, scammers disappear, and victims cannot withdraw their funds.

Red flags include unexpected messages from strangers, promises of risk-free returns, pressure to invest quickly or keep details secret, requests to move conversations to private apps like WhatsApp, and demands for personal information or cryptocurrency transfers. Difficulty withdrawing funds and poor grammar or vague credentials also signal scams.

To protect yourself, authorities recommend using only regulated cryptocurrency exchanges, researching investment platforms independently, and avoiding investments based solely on online advice. Be wary of high return promises, consult a trusted financial advisor, start small, and never invest money you cannot afford to lose.

If you suspect you’ve encountered an online investment scam, report it immediately to local police and the FBI’s Internet Crime Complaint Center at www.ic3.gov. Sharing this information may help prevent others from falling victim.