The Eastern Caribbean Central Bank published an alert urging citizens and residents of the Eastern Caribbean Currency Union to stay vigilant against financial scams, including deceptive investment schemes and frauds that use artificial intelligence to impersonate trusted individuals. The warning was delivered through its ECCB Connects programme, featuring practical guidance from the Chief Executive Officer of the Eastern Caribbean Securities Regulatory Commission. The alert highlighted common scam types such as “high return, low or no risk” investment offers, phishing messages designed to steal personal information, and fake prize notifications requiring upfront payments. It referenced the Creators Alliance case across several ECCU member countries as an example of a pyramid scheme involving recruitment and the conversion of funds to cryptocurrency. Key red flags included programmes that are not authorised by the appropriate regulator and promises of quick, risk-free returns; individuals were advised to verify licences even when schemes are recommended by friends or family, and to report suspected fraud to local police and Financial Intelligence Units, with an option to submit complaints to the ECSRC.
Eastern Caribbean Central Bank 2025-05-22
Eastern Caribbean Central Bank urges Eastern Caribbean Currency Union residents to guard against investment scams and AI-enabled fraud
The Eastern Caribbean Central Bank warned against financial scams in the Eastern Caribbean Currency Union, highlighting deceptive investment schemes and AI-driven impersonation frauds. Part of the ECCB Connects programme, the alert provided guidance on identifying scams, such as unauthorized high-return investment offers and phishing attempts. Citizens are advised to verify licences, report fraud to authorities, and exercise caution even with recommendations from trusted sources.