In Rottweil County, an unfortunate duo fall victim to online swindlers, unwittingly sending 40,000 euros to these cyber criminals.
In a recent case reported by the Konstanz Police Headquarters, a couple from the Rottweil district fell victim to an investment scam that cost them nearly 20,000 Euros. The scammers, operating through a fraudulent trading platform named "Investment Quorum", lured the couple with promises of high returns, only to deliver half of the promised amount back.
The scammers' modus operandi involved gradually gaining the trust of their victims through WhatsApp, email, or phone communications. They presented an extremely lucrative investment opportunity, which unfortunately turned out to be a fraudulent scheme.
Investment scams through unregulated trading platforms are becoming increasingly common, according to financial regulators. Such platforms often appear legitimate by using deceptive features such as official-sounding names, fake credible addresses, and professional-looking websites that create a false sense of trust.
The entity behind Investment Quorum lacks a valid Financial Conduct Authority (FCA) license, uses a fake business address, and has been flagged by regulators such as Germany’s BaFin for illegal activity, indicating it is likely a scam or fraudulent operation.
To avoid falling victim to such scams, individuals are advised to verify regulatory licensing, research the company thoroughly, be wary of unsolicited offers, use official and known channels, watch for red flags, avoid sharing sensitive information, and stay informed about known scams and warning signs.
The couple from Rottweil was able to recover approximately half of their lost money (around 20,000 Euros) through a bank transfer recall. However, the police warn that in most cases, once money is lost in internet investment fraud, it cannot be recovered.
The police advise extreme caution, especially when faced with promises of high gains, and encourage individuals to report any suspicious activities to the authorities. With increased awareness and vigilance, it is possible to protect oneself from falling victim to these scams.
[1] Investment Quorum Scam: How to Spot and Avoid Investment Scams
[2] Cryptocurrency Scams: How to Spot and Avoid Them
[3] Financial Regulators and Consumer Protection Agencies
- Despite the promises of high returns from technology-based investments on platforms like Investment Quorum, it's crucial to be aware of general-news about crime-and-justice such as unregulated platforms potentially being scams.
- With the rise of cryptocurrency technology, learning about cryptocurrency scams and their red flags, such as illegal activity flags by regulators like BaFin, is essential to protect oneself from becoming a victim.
