Scammers in Russia are targeting users on Instagram and launching fake trade investment schemes. Cyber experts ask to report the potential scams immediately.

SOFIA, BULGARIA, February 23, 2022 /EINPresswire.com/ -- Law Enforcement agencies in Russia and worldwide are conducting investigations after a trade investment fraud is swindling millions of Instagram users. The agencies are collaborating with non-governmental organizations to help users identify, detect and prevent such scams.

Cyber-Forensics.net, a world leader in cyber forensics service for online scam victims, joined the campaign. The chief analyst at the firm, Timothy Benson, analyzed the mysterious hacking epidemic online and discovered that scammers have already targeted a devastating number of users.

Several people were locked out of their profile, and investigations revealed that many accounts were now linked to a Russian domain email address.

Since social media gives plenty of opportunities to connect with millions of unknown people who may be pretending to be genuine investors in products, individuals need to stay protected.

How Can Investors Stay Protected From Russian Scams On Instagram?
Social media needs no introduction. It's taking the world by storm and launching an insidious wave of virtual socialization with platforms like Instagram, Whatsapp, Facebook, etc. But with Instagram becoming a more popular tool for not just entertainment but for businesses, scammers are finding more sophisticated ways to fool over a billion active users available on this platform. But to stay protected, it is important to practice a few principles:

Do a Background Check: Trade investment fraudsters can pretend to be genuine advisors, companies or websites. And they set up fake financial company profiles on Instagram to sound authentic. It is easy to get scammed if a user clicks on the advertisement or replies to the message. So, look for the wrong site address, odd layout, lack of contact details, and bad reviews, etc.

Also read about similar scams- Click Here

Look Out for Common Tricks that Con Artists Use to Attract Investors: Fund recovery specialist Peter Thompson explains “Fraudsters may use different channels, including social media, email, phone conversations, to lure victims into scams. If the scheme sounds too good to be true, chances are it is a scam.”

Verify Get Rich Quick Schemes: It is perhaps one of the most common gimmicks con artists use. They promise investors a once in a lifetime opportunity to make a lot of money in a short period. They say investors can become rich quickly with little or no effort. This tactic is most commonly used to create the illusion of a wealth-filled future.

A 24-year-old young accountant had a similar encounter and lost around £17,000 to a fraudster. The Russian scam victim discovered the foreign-exchange trade investment scheme through Instagram.

The scam victim told BBC: "At first, I put £1,000, and once I saw profits, I deposited more and more money. In the end, I was scammed out of £17,000."

Looking at the possible reasons, Timothy Benson, a chief analyst at Cyber-Forensics.net, says: "The figures suggest that since the corona pandemic, the average number of trade investment scams reported every month have increased by more than 50%."

Look Out for Common Scams: Keep an eye on the most common investment scams list, such as cryptocurrencies, precious metals, wine, buying land abroad, etc.

Use Protected Payment Methods: A scammer may ask investors to pay using multiple online payment methods such as different branches or by wire transfer. Fraudsters can ask individuals to transfer the money to an account in another name to the company. If the name doesn’t, it could be a scam.

Get Advice Before Investing: Talk to friends or fund recovery companies who may help in providing the right guidance. See what they think about the investment plan. To help with the money, contact independent financial advisors.

What Can Trade Investors Do If They Have Been Scammed?
If users have been scammed, a pivotal step is to report the matter to authorities. Either they were scammed into giving personal details or investing money. If the case is later, the chances are it will require expert assistance from fund recovery specialists. Other crucial steps to follow are:

Collect Documents: It is important to gather all the details of the fraud. Include the things like:
Company name
Name of people involved
Contact information
Investment amount information such as ID, amount paid,
The website address, telephone numbers
A timeline of what happened
Copy of police report

Take Action: Report the investment fraud to federal agencies or state agencies. A legal procedure can help get the best outcomes and break down the complexities of fund recovery.

Choose the Right Services: If investors have lost money as part of an online scam or a wider cybercrime like trade investment scam, seeking the right help can create a big difference. With their field experience and expertise to construct financial plans, advisors evaluate the case accordingly to give a better overview of the possible fraud technique used by scammers.

The agencies can help track the authorized and unauthorized payment channels used in the scam and identify fraudsters. Contacting professional fund recovery services will involve executing effective strategies for scam victims to retrieve lost funds in trade scams.

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About Cyber-Forensics.net
Cyber-Forensics.net is committed to providing the most accurate tracing service for victims of online scams. Cyber-Forensics.net empowers and simplifies the process of tracking down the cyber-criminals and assists in recovering the funds and creating an atmosphere for a negotiated settlement. For more information, please visit https://cyber-forensics.net/.

Peter Thompson
Cyber-Forensics.net
+1 917-920-6613
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