Today, trading shares, investments and cryptocurrency on trading platforms is part of everyday life. Following this trend, scammers are copying the genuine sites of these trading platforms and enticing people with huge profit margins.
The endless stream of advertising banners on websites and the flood of daily emails they receive direct users' interest to specially designed, legitimate-looking websites.
In essence, cybertrade is a more complex form of the fake store principle. Fake stores offer fictitious goods on fraudulent websites, which are to be paid for in advance. In contrast, cybertrading offers profitable investments or cryptocurrency. These sites, which are modeled on real trading platforms, look so genuine that detecting/masking/exposing them is a challenge even for experts. To make matters worse, many of these sites also make a very serious impression on users by providing genuine login details.
How do the perpetrators direct their potential victims to these sites?
Pictures or even fictitious newspaper articles of celebrities are often used for abusive advertising. Those affected do not know that they are being used for this advertising.
Skillfully placed background stories on the Internet are also often used to deceive trust. Articles with headlines such as "Major banks don't want end consumers to find out" or "Nobody says it's that easy to earn money online" arouse the curiosity of potential customers.
But victims are also cleverly directed to fake trading platforms via messenger and dating apps.
If they register on the fake trading sites as a result of this fake advertising, they usually have to transfer a basic capital of 250 euros in advance. The perpetrators then suggest large profits through messages on the fake trading site, by email or messenger. In the second step, this tempts people to invest larger sums of money. However, the money is never used for trading investments, but instead ends up in the perpetrators' pockets until the victim stops making payments.
The Cologne police recommend checking the website in question thoroughly before making any transfers:
- Cryptocurrencies are not shares. If you invest in crypto, never use an intermediary - so-called brokers
- Do not allow anyone to access your cell phone or other devices via the network
- Watch out for foreign payees. Payments made abroad can only be reversed with difficulty or not at all. Financial institutions provide more information on this.
- Your bank will provide expert advice on the risks and possibilities of transfers abroad.
- Do not give anyone you do not personally know your identity card, personal details or money.
- The starting amount - which you should always be skeptical about - is currently 250 euros. This amount can change at any time
- Even if everything seems to be over - after around 6 months, the perpetrators often approach you under the guise of a lawyer or detective and promise to get their money back for a fee. This is also another attempt at fraud.
If you have the slightest suspicion that you have been the victim of a crime, it is advisable to contact your personal financial institution immediately in order to reverse payments that have already been made. The Cologne police then strongly advise you to file a report with your local police authority or an online report. Any contact with the perpetrator may harbor further dangers and should therefore be ignored.