Social media Fraud


Social media, such as Facebook, YouTube, Twitter, and LinkedIn, have become key tools for investors worldwide, this ranges from seeking research on particular stocks, background information on a broker-dealer or investment adviser, guidance on an overall investment strategy, up to date news or to simply want to discuss the markets with others, investors turn to social media. Social media also offers a number of features that criminals may find attractive. Fraudsters can use social media in their efforts to appear legitimate, to hide behind anonymity, and to reach many people at low cost. IPSA’s  investor Online bulletin  provides the investing public adequate alerts and  more information on how to avoid these scams.

Investor are therefore cautioned to always be wary and vigilant  of unsolicited offers to invest. Unsolicited sales pitches may be part of a fraudulent investment scheme. If you receive an unsolicited message from someone you don’t know containing a “can’t miss” investment, your best move maybe to pass up the “opportunity” and report it to the to the FSB or IPSA.

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