CMVM alerts to investment frauds in capital markets via social media
The CMVM warned of rising frauds associated with false investments, promoted through unsolicited contact and deceptive online advertising.
Regulator warns: scams in false investments grow and use AI
The Securities Market Commission (CMVM) issued an alert about the growth of fraud and scam schemes linked to alleged investments in the capital markets. According to the CMVM, the perpetrators use unsolicited contact and deceptive online advertising campaigns to attract victims.
Scammers frequently establish a relationship of trust before presenting any proposal. To do this, they use telephone, SMS, WhatsApp, email and social media platforms such as Facebook, Instagram, YouTube and TikTok, taking advantage of the lack of financial experience of potential victims.
Proposals typically appear with promises of high or guaranteed returns and without risk. The perpetrators present themselves as specialists in financial products and markets, using technical language to appear credible. In some cases, they identify themselves as friends, distant relatives, neighbours or representatives of recognised entities.
Warning signs identified by the CMVM
Among the fraud indicators listed by the regulator, pressure to make a quick decision stands out, without the possibility of consulting family members, friends or professionals. Scammers also seek to isolate the victim from people who might alert them to the risk.
The CMVM also draws attention to advertising campaigns that include videos, news and false content, with abusive use of the image of public figures or recognised institutions. The use of Artificial Intelligence (AI) is facilitating the spread of these schemes, which is why the regulator advises investors not to assume videos or interviews on social media are authentic merely because they feature public figures or official entities.
The regulator further clarifies that it never contacts investors through WhatsApp and that its communications are made exclusively from addresses with the "@cmvm.pt" domain, warning of the existence of similar but illegitimate domains.
What to do when faced with suspicious contact
When faced with suspicious contact, the CMVM recommends that attachments should not be downloaded, links accessed or advertisements clicked. Any remote access to a mobile phone or computer via screen-sharing applications should also be refused.
The regulator also advises against providing banking credentials or personal data, and against transferring money for alleged recovery of previous investments or for payment of supposed commissions, insurance, taxes or other expenses. Depositing funds into products presented by unverified contacts is also discouraged.
Before any investment, investors should confirm whether the entity is authorised to operate in Portugal by consulting the list of authorised financial intermediaries provided by the CMVM. Through the Institutional Portal or the Investor Portal it is also possible to verify the veracity of alleged news or content shared online.
Anyone receiving fraudulent contacts or requests can report them to the Investor Support Line, on the number 800 205 339 (free call) or via the email address [email protected]. The CMVM notes, however, that this contact does not replace the filing of a complaint with the competent authorities for criminal investigation.
Source: RTP