Fake advertisements: How scammers use celebrities to entice investment fraud
Cybercriminals often exploit the names and images of prominent figures to advertise supposed ways to increase wealth on fake websites masquerading as well-known media outlets. The Federal Office for Cybersecurity is warning of an increase in such advertisements.
Making a large fortune with small investments - this is what cyber criminals are increasingly promising through fraudulent online advertisements. For such scams, they use websites in the guise of well-known media such as View, 20 minutes or SRFaccording to the Federal Office for Cybersecurity BACS. The scammers would misuse the faces of prominent people for advertisements in order to lure potential victims to rip-off websites. Such advertisements for fraudulent online investments have frequently been reported to the BACS, particularly in recent times. According to the press release, the Federal Office concludes from the current high number of reports that this type of fraud has a wide reach.
Celebrities as scam bait
Although traditional emailing remains popular with cyber criminals, social media such as X, Facebook and YouTube have also become the focus of fraudsters. According to BACS, the scam attempts themselves are often similar: the celebrities being advertised promise in an alleged interview to make big money in a short time with minimal investment. They are then encouraged to register via a link or an app. As soon as registration is complete, supposed advisors pick up the phone to tempt potential victims to invest.
The initial investment is low and a personalized website shows how the balance increases - or so it seems. According to the Federal Agency, the fraudsters push for further and higher payments. In some cases, an initial small payment may actually be made at the beginning, but this is only to consolidate the victims' trust. This is because the money does not increase at all, but flows directly into the accounts of the fraudulent organizations.
According to BACS, when victims of the scam request a payout, the fraudsters insist on numerous other payments, for example for alleged fees or taxes. In some cases, criminals would also get in touch again months or years later with the message that they could get the money back for the victims - again in return for a prior payment, of course.
Stay vigilant, avoid fraud
To avoid such scams, the Federal Office advises you to check the website in question carefully and never allow yourself to be put under pressure by sellers. The motto is also: the higher the promised return, the greater the risk. Furthermore, the BACS recommends checking whether a financial service provider is licensed by the Financial Market Authority in connection with the promised increase in assets.
If you have already made payments, the federal authority recommends that you break off contact with the fraudsters immediately. The BACS also advises not to make any further payments - not even for alleged fees - and to file a complaint with the relevant cantonal police. Furthermore, caution is advised when alleged lawyers or authorities promise to recover the lost money at a later date and demand fees. (Dylan Wildhaber/jor)
