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Another Increase in Damage Due to Investment Fraud

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Investment fraud caused damage of more than 13 million euros in the first nine months of this year, says the Fraud Helpdesk. This concerns both people who accepted an advertisement and victims who were approached by email or telephone with different products.

 

For the whole of 2021, the organization foresees an increase in investment fraud of more than 30 percent compared to 2020. At that time, 13.2 million euros in damage was reported.

There are more and more fraudulent offers in cryptocurrencies and currencies, says the Fraud Helpdesk. Fraud also takes place with, among other things, risky ‘leveraged products’, so-called CFDs. This involves speculation on the rise or fall of a currency or share price.

The Fraud Helpdesk thinks that the total damage from investment fraud for 2021 will amount to more than 18 million euros, with almost 500 victims, a spokeswoman said. This would almost triple the damage caused by investment fraud in a few years. In 2018, the amount of damage was about 5.8 million euros, with 168 victims.

The Netherlands Authority for the Financial Markets (AFM) also recently noted an increase in the number of reports about dubious investment products. That is why the AFM and the Fraud Helpdesk are starting a campaign with tips and warnings for wise investing. Jort Kelder and Marco Borsato, among others, cooperate through videos that warn people against fake advertisements with their names and portrait. But, unfortunately, this kind of fake advertisement pops up regularly.

The two organizations again warn against investing as an alternative to saving. “Even people with little investment experience are looking for opportunities to increase their savings or pension benefits. But not all providers of investment products are equally reliable.” As a result, victims often lose a lot of money, they say.

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