Fraud alert: Watch out! Trading scam uncovered

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Investment fraud uncovered – thousands of investors ripped off

A sad trend continues month after month through everyday life and consumer protection news. The talk is of trading platforms that lure with dream returns on the Internet, but are not trading platforms at all. What is particularly dangerous here is that the scammers promise with advertisements and involve celebrities as testimonials. In this way, high and fast profits are promised. But in the end, the consumers are ripped off and the entire real money deposited on the trading platform is retained by the scammers and is thus 100% lost.

Online trading fraud with dubious brokers

The system on which the fraud is based is, it should be noted, as sophisticated as possible. Thus, not only Internet presences, but also social media channels are integrated into the advertising measures. Even references to well-known TV formats such as “Die Höhle der Löwen” (The Lion’s Den) are used to inspire confidence in consumers and encourage them to register and deposit real money. More than 50 trading platforms have received negative reviews from consumers who have not seen anything of their deposits to date. And this despite the fact that the platform operators provided proof of the deposits made and proof of success. On concrete inquiries none of the prominent ones had ever something concrete to do with the operator enterprises. Also appearances of the invented testimonials in a TV show belonging to the Trading platform did not give it after conclusion of the searches.

The websites of trading providers for trading cryptocurrencies, currencies or contracts for difference CFDs, are very well programmed. At first and even at second glance, the fake is not visible. Initially, the starting capital is 250 euros. Then consumer:inside supposedly experienced financial broker is placed at the side. He is easily accessible and quickly builds a good customer loyalty. In relatively short time pressure is built up and it is animated again and again higher amounts of money to deposit around the present opportunity not to miss. As soon as one as consumer:in a part of its money or the complete Trader account would like to have paid out, is all at once of a liquidity proof at a value of 1,000 euro the speech. These are to be deposited first, before the desired payout is carried out by the trading provider. The proof of liquidity is required in order to pay the profit taxes at the trading center abroad in advance. Another justification is that an insurance policy is to be taken out, which will be used to secure the profits achieved by the consumer:in up to now. No matter how much time passes, there is no payout of the desired amount of money. In addition, the financial expert who has always been available up to now can no longer be reached. It is not unusual for consumers:in to have individually deposited six-figure sums of money in this way and thus lost them. In total, this scam has caused several million euros to be lost in Germany every year.

Broker fraud: High returns and low risk are promised

Even the BaFin, the Federal Financial Supervisory Authority warns with the BKA, the Federal Criminal Police Office from Germany, against these trading platforms on the Internet. Special caution for Verbraucher:innen is required, if on-line of particularly high net yields the speech is. As a first indication, a look at the imprint will help. With the help of BaFin, it is then possible to find out in just a few steps whether the company in question is in BaFin’s company database and has an official license in the EU. If this is not the case, then the provider may not offer business in Germany. In that case, you will immediately know that you have to keep your hands off this trading platform. Another important note is that all alarm bells should ring immediately if a platform wants to install Teamviewer or AnyDesk on your computer desktop. Many cases have been reported in which various amounts of money have been debited from the bank accounts of computer owners after the installation of such programs. At no time did the bank account holders give their consent. If you are one of the victims, please contact BaFin, the police and the consumer advice center immediately.

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