Palestine Capital Market Authority issues urgent warning on organised investment scams spread via social media and text messages

The Palestine Capital Market Authority published an urgent warning about the spread of organised, long-running financial fraud schemes that lure the public and investors, reflecting a pattern being tracked internationally by the International Organization of Securities Commissions. The authority described these scams as distinct from traditional fraud, often initiated through fake text messages or social media outreach, with global losses estimated in the tens of billions of USD and with Palestinian consumers also at risk regardless of age or education. The notice urges heightened caution toward any unofficial offers or events promoted online, including pitches promising improved living conditions through artificial intelligence and trading in global and foreign markets by unlicensed parties. Investment-related contact should be conducted only through official channels, and invitations to move discussions to encrypted apps such as WhatsApp or Telegram should be ignored. It also stressed that the Palestine Capital Market Authority is the sole body that licenses activity in the Palestine Exchange or in global and foreign financial markets, advised against “quick profit” and “exclusive opportunity” claims and unsolicited investment advice, and called on the public to verify opportunities through official sources, not share personal data via unofficial channels, and report suspicious activity promptly to the authority and security agencies.