Alert issued about deceptive practices on digital financial markets
In early 2024, the Lübeck Criminal Police issued a warning about common tactics used by fraudsters in online investment scams. These scams often target private individuals, with fraudsters making contact through social media, instant messaging apps like WhatsApp, or fake websites pretending to be trusted companies or investors.
The fraudsters pose as financial experts and promise exceptionally high returns. To build trust, they may use fake dashboards that display fabricated profits. Once trust is gained, they help set up an account on a supposed trading platform and push for an initial deposit.
As victims become more invested, they are gradually pressured to deposit increasingly larger amounts of money. When victims try to withdraw funds, scammers impose additional fake "activation fees," "high-value orders," or other fees to create obstacles and trap the money. Eventually, scammers disappear after extracting as much as possible.
These tactics rely heavily on social engineering, manipulation of perceived trust, and exploiting popular communication platforms such as WhatsApp, phone calls, and SMS, which remain common scam delivery channels.
To avoid falling victim to such scams, the Lübeck Criminal Police advise against engaging in telephone recommendations or contacts via messenger services. Potential investors should only approach serious banks and recognized financial institutions to gather information in person. Caution is advised when high returns without risk are promised as this is almost always a scam.
The BaFin's company search can also provide useful information. If you believe you have been a victim of an online investment scam, the Lübeck Criminal Police have processed over 100 fraud cases related to alleged trading platforms since the beginning of 2024.
For more information on safe investments and fraud protection, visit polizei-beratung.de. A free social media package for awareness is available for download: Social-Media-Paket. For more news from Lübeck and the surrounding area, visit All Articles.
[1] Source: Lübeck Criminal Police press release, 2024.
- In light of the warning issued by the Lübeck Criminal Police, refrain from considering investment opportunities that promise excessively high returns without significant risk, as they often arise from fraudsters who employ manipulative tactics.
- If you're serious about investing, it's prudent to only engage with established banks and legitimate financial institutions, rather than unverified individuals or platforms found on social media or through messaging apps.
