WhatsApp educational and investment platform scam

How the scam works

• The scammer creates an ad on social media platform offering free education or tips on investment trading. Users are then prompted to join a WhatsApp group after clicking the ad. Alternatively, the scammer may add phone numbers directly to a WhatsApp group, without the user interacting with an ad first.
• The WhatsApp group is led by someone described as a “mentor, “coach” “professor” or “assistant”.
• The groups promise unrealistic returns such as turning $100k into $10m within 6-12 months, with their help.
• Gift cards, credit or free trades might be provided for attending sessions or completing educational training courses.
• The mentor will introduce and recommend an investment platform to the victim. Scammers have gone to great lengths to make these online platforms appear authentic.
• The investment platform will message users, helping them set up an account and make transfers.
• The user will then be able to make several trades, believing the platform to be authentic, which encourages them to invest more money.
• When the victim asks to withdraw funds, they are told they must first pay a fee to release the money; even if these fees are paid, no money is paid out.

If you come across these ads or investment platforms, do not click on them and don't give them your personal information or identity documents.

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