Investment scams were the most damaging form of fraud for the third consecutive time last year, the Ministry of the Interior said on Tuesday, as it advised potential investors to research beforehand and only invest through government-accredited channels.
Investment scams were the most common form of fraud last year, and has been responsible for the greatest financial losses since 2021, the ministry said in a news release.
Scammers often impersonate celebrities or influencers to lure people into downloading an investment app, it said.
Photo copied by Lin Chia-tung, Taipei Times
The investment usually has some small returns at first to induce greater buy-in, before disappearing altogether, it added.
The next most-common form of fraud was online sales scams, in which scammers sell a fake product on an e-commerce site or Facebook Marketplace, the ministry said.
Buyers should use platforms with a good reputation that have a third-party payment system, and avoid communicating with the seller over a private messaging app, it said.
Canceled installment payments were the third most-common type of fraud last year, the ministry said.
This strategy involves a scammer impersonating a bank employee or customer service representative falsely claiming that an item has been charged multiple times, it said.
They then instruct the target to go to an ATM or their bank to “cancel installment payments,” it added.
If encountering suspected fraud, the ministry advised contacting the 110 police or 165 fraud hotline, and adding the 165 account on Line to receive the latest fraud information.
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