SmartFactoryFX– Facebook recruitment, investors unable to withdraw funds   

How the scam works:

1. An individual receives a friend request through Facebook.   

2. They may notice a number of mutual Facebook friends which lead them to readily accept the request.  

3. This “friend” then makes contact and starts chatting. This may continue over a number of weeks or months, building up trust.  

4. This friend then shares stories of apparent investing success, saying they had used a “trading mentor” and an online platform such as SmartFactoryFX.  

5. The victim becomes curious and decides to also invest.  

6. The victim is introduced online to the trading mentor who says they will help set up a trading account and invest money.  

7. A few trades may then proceed, which can lead the victim to believe the platform is legitimate.  They often see inflated profits being made and are encouraged to keep investing more. This is all supported by the original “friend.”  

8. They then try make a withdrawal but are told they must pay some type of fee to get their money out. But even if this money is paid, no money is ever released.  

9. If the victim shares dissatisfaction with their “friend,” they are encouraged to simply pay the fees, with the friend saying they had got their money back after paying up.  This so-called friend has been collaborating with the scammers since the beginning.