The Saudi Interpol has warned the public against dealing with bogus, unlicensed companies that are digitally promoting investment and stock trading platforms, Saudi Press Agency (SPA) said Saturday.
Saudi Interpol alerted the public on the basis of information it has received from the international Interpol bureaus, which say that these fake companies resort to giving the impression that they are genuine, legitimate and professional companies due to the design of their address on the social media.
It further said that these criminals resort to marketing tactics using SMS messages or telephone calls to lure their victims to open accounts in their “fake” companies. These companies’ websites enable the tempted victims to open accounts and deposit cash directly via payment cards or electronic remittances.
The moment the account is opened, the conmen will contact the targeted person via his phone or email and give him the impression that they are genuine and official middlemen.
In such cases, usually the victim will get a message through his email that he has won quick profits, which in most cases is untrue. They will tamper with the website so that it gives the impression that the person has actually won.
The conmen would keep on calling the victims continuously to entice them with promises that they would get more profits so that they would invest more money.
When the victims want to withdraw their money from their accounts, the conmen would give flimsy excuses to justify not handing over the victims their cash. Then the conmen would disappear and it would be impossible to call them. In most cases, the website is closed down and the invested money is lost.
Saudi Interpol warned the public to exercise utmost caution lest they fall prey to the hazards of such investments or stocks with any amount whether the party promoting the investment is a person or some unknown quarter operating via some websites without verifying the legality of such quarters and whether they have obtained the necessary licenses.
SOURCE : SAUDIGAZETTE
