The Dutch Authority for the Financial Markets (AFM) issued a warning about a sharp rise in investment fraud conducted through chat groups, where scammers pose as experienced investment experts offering “exclusive tips”. Victims are lured via misleading advertisements or are added to groups without consent, and are then steered into fake investments in products such as crypto-assets or shares, often resulting in significant losses. The AFM notes that these schemes frequently involve identity fraud, including impersonation of recognised analysts, asset managers or well-known investors, and in some cases misuse of the AFM’s name and logo. It highlights key red flags for consumers, including unsolicited addition to “exclusive tips” groups, recommendations to buy illiquid shares or crypto-assets with claims of guaranteed near-term price increases, time pressure and “unique opportunity” framing, and promises of unrealistically high returns. The AFM also reiterates that firms offering, brokering or advising on financial products or services must be licensed by the AFM or De Nederlandsche Bank and can be checked in the AFM register, and advises victims to report the fraud to the AFM and file a police report.
Dutch Authority for the Financial Markets 2025-10-08
Dutch Authority for the Financial Markets warns investors of a surge in chat group investment scams and identity fraud
The Dutch Authority for the Financial Markets (AFM) warns of a surge in investment fraud via chat groups, where scammers impersonate experts to promote fake investments in crypto-assets and shares. These schemes often involve identity fraud and misuse of the AFM’s name, with tactics including unsolicited group additions and promises of high returns. The AFM advises verifying firm licenses and reporting fraud to authorities.