The Trinidad and Tobago Securities and Exchange Commission has issued its sixth investor alert warning of a continued rise in investment scams, especially schemes promoted through social media and digital messaging apps. The alert says fraudsters are using increasingly sophisticated tactics, including fake profiles, impersonation of financial institutions and professionals, and online offers that promise guaranteed or unusually high returns, and it urges the public to verify opportunities before sending funds. The commission highlights a range of warning signs. These include claims of implausibly high returns, pressure to move conversations to WhatsApp or Telegram, urgent requests to deposit money, and instructions to send funds to personal bank accounts rather than company accounts. It also warns about fabricated investment platforms showing false profits, impersonation of registered entities, brokerages or regulators, AI-generated fake videos or images of public officials, demands for withdrawal fees that can exceed TTD 1,000, requests for sensitive personal data, and use of money transfer services that may expose victims to money laundering risks. Investors are advised to be skeptical of unsolicited online offers, conduct independent due diligence, and verify whether firms, individuals and promoters are registered with the TTSEC. The alert adds that investing with an entity that is not registered under the Securities Act Chapter 83:02 could result in the total loss of the investment, and it encourages the public to report suspected scams or suspicious activity to the commission.

Original source