Be wary of messages promising large returns for a small upfront payment. Scammers may use fake banking screenshots and video endorsements to appear genuine, then demand more money to release a payout that never arrives.
Promises of large returns from a small upfront payment can be a trap. Learn the warning signs and what to do if you have been targeted.
Scammers contact people through Facebook, Messenger, WhatsApp and other messaging platforms, offering an investment that supposedly turns a small payment into a much larger payout. They may claim, for example, that sending $1,000 will earn you $10,000.
The amounts vary, but the promise is similar: pay first and receive substantial returns quickly. Once you pay, the promised funds may never arrive.
The scammer may direct you to a page or platform that appears professional and trustworthy. It may display glowing testimonials, videos from local people and screenshots that appear to show successful payments.
After you send money, the scammer may demand further payments for “processing fees”, “tax”, “verification” or “release charges” before you can receive your returns. Each payment can lead to another demand.
They may also require you to record a video endorsing the scheme as a condition of receiving the promised funds. Your recording could then be used to persuade others to send money, even if you have not received a payout.
A banking screenshot or testimonial is not proof that an investment is genuine.
Scammers can alter banking screenshots using image-editing tools or artificial intelligence. These images may imitate familiar banking apps and display fabricated balances, transactions or payment confirmations.
Videos of people recommending the scheme can also be misleading. A person may have been pressured to record an endorsement before receiving any money, or their recording may have been edited or presented without its original context.
Do not send money based on messages, screenshots or social media endorsements. Independently check the provider and any claims about registration or licensing with the relevant regulator, using contact details you find yourself.
Do not record an endorsement to obtain a promised payout. Never disclose your banking password, PIN or one-time password, and do not install software at the scammer’s request.
If you receive a suspicious offer, preserve the messages and account details, then report and block the account.
Contact your bank or payment provider immediately. Explain that you may have been scammed and ask whether the payment can be stopped, recalled or traced.
Be cautious of anyone who later offers to recover your money for an upfront fee. This may be another scam.
Your report can help identify scam activity and protect others. You can report a suspicious approach even if you did not send money.
Include how you were contacted, what was promised, any payments made and whether you were asked to record a video endorsement. Do not include passwords, PINs or one-time passwords.
