The online trading scamsoften conveyed through WhatsApprepresent a constantly evolving threat to web users. Despite the efforts of the authorities to contain them, these frauds continue to have some success by exploiting the popularity of online investments, the fascination of cryptocurrencies and the lack of public knowledge on these issues. Promises of easy money, apparently professional platforms and psychological manipulation strategies are some of the techniques used to lure and deceive victims. Recognizing the dynamics of these scams, understanding their impact and taking the necessary measures to protect yourself are fundamental steps to avoid falling victim to them.
How trading scams work
In recent years, scammers have perfected how to reach victims by leveraging messaging platforms like WhatsApp. The messages arrive (many times from numbers with a foreign prefix) moving forward “safe” investment proposals and high returnssometimes attributed to well-known names in the financial world such as Morgan Stanley or BlackRock. However, these offers do not come from the companies mentioned, but from unauthorized operators who exploit their prestige to give credibility to their scams. Through captivating messages and a persuasive tone, they entice potential victims to invest small sums, in the order of a few hundred euros, as “proof”.
Once attracted to the network, scammers use advanced social engineering techniques, a method of psychological manipulation that exploits the victim’s trust and naivety to induce them to act against their own interests. Among other things, they may display false financial statements reporting fictitious profits, convincing their potential victims to invest increasingly larger sums. When you try to withdraw the presumed earnings, you will be asked for further sums with the justification of having to pay taxes or commissions. In many cases, transactions take place in cryptocurrencies, which makes it almost impossible to recover lost money.
The damage of trading scams and how to avoid them
These frauds have devastating consequences. Victims not only suffer economic losses, but also experience severe emotional trauma, losing trust in the financial system. This phenomenon it also undermines the credibility of legitimate trading platformspenalizing the entire sector.
To defend yourself, it is essential to be informed about the dynamics and operating mechanisms of this type of scam. There are no investments without risk and anyone who promises you the opposite is not reliable. Before accepting an offer, always check that the broker is authorized by consulting the official lists of CONSOB or the Bank of Italy.
Beyond that, Be wary of anyone who contacts you via WhatsApp or other platforms without a valid reason or, even worse, boasting of having discovered the “Holy Grail” of online investments. Don’t share never sensitive information (for example banking credentials, passwords, etc.) e do not install remote control software suggested by strangers.
Another very important move you can do to avoid scams is keep you informed. The authorities are working to increase awareness through information campaigns and ad hoc sections on their online portals, such as the “Watch out for scams!” section. of CONSOB.
