The Hong Kong Securities and Futures Commission (SFC) issued an investor alert urging the public to remain vigilant against investment scams in which fraudsters impersonate well-known stock commentators and lure victims into ramp and dump schemes, often by promising guaranteed high returns. The SFC said cases reported to it involved scammers using social media platforms and instant messaging apps to promote small-cap or less liquid stocks with purported “inside information” or tips, inflating prices before selling their own holdings and leaving victims exposed to losses as prices fall. Some victims were also directed to fraudulent trading platforms or apps and later reported difficulties withdrawing assets, while others were targeted again after losses with false offers of “compensation” conditioned on additional “deposits” or “handling fees” before the fraudsters cut off contact. The regulator has reported the cases to the Police and advised investors to treat unsolicited online advice with extreme caution, verify recipient identities and payment channels, avoid deposits to individual bank accounts, and report suspected impersonation or manipulation to the SFC or the Police.
Hong Kong Securities & Futures Commission 2026-02-11
Hong Kong Securities and Futures Commission warns investors about ramp and dump scams impersonating stock commentators
The Hong Kong Securities and Futures Commission issued an alert warning investors about scams involving impersonation of stock commentators to promote ramp and dump schemes, often using social media and messaging apps. Victims are lured with promises of high returns, directed to fraudulent platforms, and sometimes targeted again for additional deposits under false pretenses.