Fake investments, especially in cryptocurrencies and on the Forex market, have become a common method of extorting money from unsuspecting Poles, according to a report published by the Computer Security Incident Response Team of the Polish Financial Sector (CSIRT KNF).
“Fake investments are one of the most common forms of fraud that target non-professional financial market participants. Cybercriminals create fake websites and mobile applicationswhich aim to extort money from users. They often offer very high profits without the risk of losing money” – indicated in the report “Investment fraud schemes and methods” prepared by CSIRT KNF.
How scammers operate
According to the publication, the number of investment frauds has increased significantly in recent years, becoming one of the main threats to the unsuspecting investors.
As the authors of the report note, Operation diagram scammers are usually very similar. They use social media to post fake Advertisement regarding lucrative investments, often using images famous peopleto gain the trust of potential victims.
“In order to attract as many people as possible, criminals offer quick and high profits, which unfortunately leads to the loss of significant financial resources by victims,” ​​it said.
Examples of tools and schemes used by fraudsters include fake websites, fake mobile applications, social media, Google Ads or tools for creating advertising campaigns.
The report emphasizes that fake investments are not only victims defrauded by cybercriminals, but also organized groups recruiting new members for their illegal activities. “Cybercriminals, operating under the guise of legitimate-looking companies, attract candidates promises of high wages, attractive bonuses and stable working conditions,” the authors of the report emphasize.
After successfully completing the recruitment process, cooperation with the affiliate network begins, consisting in promoting links provided by a representative of that network.
Images of famous people
The report also describes methods of advertising offers that have already been created – the most well-known method of distributing fake investments and advertisements is sponsored posts on social media. “Every month, CSIRT KNF reports about 1,500 such advertisements to be blocked. Fraudsters know perfectly well where to look for their victims and how to effectively target them using well-configured advertisements,” the report emphasizes.
The authors of the publication also noted that fraudsters often use images of famous people – politicians, TV and Internet stars, athletes – in order to gain the trust of potential victims.
The Sectoral Cybersecurity Team was established by the Polish Financial Supervision Authority (KNF). The team is to, among other things, receive reports of serious incidents and support in their handling, analyze such incidents, and look for connections between them. It is also to cooperate with the relevant CSIRT MON, CSIRT NASK and CSIRT GOV in coordinating the handling of such incidents.
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