Overview

• State police president Mario Germano reports nearly €30 million in losses in the past year in Rhineland-Palatinate, with a steady to slightly rising trend and a high number of unreported cases.
• Victims are funneled from Instagram, TikTok and WhatsApp into convincing trading portals that show fabricated charts and gains while so‑called advisors push repeated deposits.
• When withdrawals are requested, fraudsters demand invented fees or taxes and cut off contact even after additional payments are made.
• A recent case in Mainz saw a 34‑year‑old lose more than €20,000 after joining WhatsApp groups via an Instagram ad, with a contact later traced to a hacked profile in Switzerland.
• Police across Germany highlight related risks, including a “recovery scam” using fake refund notices, and urge checks of BaFin registration, refusal of remote-access software, preservation of evidence, and prompt reporting.