Overview
- The Spanish securities regulator said these schemes can target anyone, with people who are isolated online flagged as especially vulnerable.
- Fraudsters often pose as successful investors and steer victims to invest in crypto, forex or gold via specific apps that later block withdrawals.
- Telltale tactics include refusing in‑person meetings or video calls, shifting chats to encrypted messaging, urging secrecy and pressing for quick decisions.
- Promises of high returns with little risk frequently come with demands to use little‑known platforms and to pay upfront fees or taxes to access funds.
- The CNMV joined an IOSCO-led global awareness effort and urged citizens to ignore unsolicited investment pitches, protect personal data, avoid suspicious downloads, never pay to recover losses and report suspected fraud to authorities.