Investment fraud costs Finnish investor €25 million – largest single case in Finland
The Central Finland Police investigates aggravated fraud in which a Southern Finnish investor lost approximately €25 million to a forged investment platform.
Fraudulent service costs €25 million – police investigate Finland's largest investment fraud
Google News FI — Crime (fi) reported an exceptional investment scam in which a Finnish citizen residing in Southern Finland lost approximately €25 million to a fake online investment platform. The Central Finland Police is investigating the matter as aggravated fraud.
The victim received contact on social media from a person who presented themselves as a representative of an investment service operating online. The person directed the victim to create an account on the platform, after which the victim transferred significant sums to the service.
The platform appeared authentic initially. The victim was able to withdraw some of their investments, which led to increasingly larger transfers. Eventually the victim could no longer access their account and could not reach the service provider, and the funds left on the service were not returned.
Criminal Chief Superintendent Sakari Tuominen, who leads the Central Finland Police's nationwide computer-assisted crime investigation unit, considers the case unprecedented.
"Last year the total criminal proceeds from investment fraud were €21 million," he states, referring to the fact that the individual case now under investigation already exceeds that amount.
Tuominen characterises the case as unfortunate: "This unfortunate case illustrates well how careful one must be in online investment operations."
Police suspect the entire investment platform was created originally to commit crimes. Behind it is an international criminal organisation, and Finnish police are cooperating in the investigation with law enforcement authorities in other countries.
The matter came to police attention in May when the victim filed a criminal report. The crimes occurred several months before the report.
Police are issuing information about the preliminary investigation due to its significance to society, and because disclosure may prevent further crimes. Fraud crime is currently the fastest-growing form of organised crime, and technological development has made computer-assisted fraud easier to commit.
Source: Google News FI — Crime (fi)