Investment and payment scams are increasingly exploiting current events and economic uncertainties. These fraudulent schemes often promise high returns with minimal risk, targeting individuals through emails, social media, texts, or calls.
The Financial Industry Regulatory Authority (FINRA) BrokerCheck and the Securities and Exchange Commission (SEC) Investment Adviser Public Disclosure tool can verify if an investment firm or adviser is licensed. Collaboration with internet safety expert Rachel Tobac aims to educate people on avoiding such scams.
Graphika's research identified cryptocurrency investment scams in South Africa involving fake accounts posing as employees of Luno and Valr apps. Scammers used misleading content to attract victims by promising trading secrets.
Common payment scams include advance payments where scammers disappear after receiving funds without delivering goods. Overpayment scams involve requesting refunds after falsely claiming overpayments.
To combat these issues, anti-scam tools have been developed for platforms like Messenger and Instagram. These include warnings about suspicious activity and optional facial recognition technology for identity verification.
Efforts continue to disrupt scam centers globally, resulting in the removal of millions of fraudulent accounts since 2024. Recent actions targeted clusters in Brazil and India using deepfakes to promote scam apps.
Collaborations with organizations like the FBI's Level Up program aim to prevent financial losses from investment scams by quickly notifying potential victims. The Llama Defenders Program provides AI solutions against security threats.
As a member of the Tech Against Scams Coalition (TASC), new educational resources have been made available online. Awareness campaigns emphasize two-factor verification's importance in preventing fraud across various regions.
Educational videos released globally highlight common scam tactics on messaging platforms, with efforts continuing to share updates on countering scams effectively.