Over a hundred Mauritians fall prey to large-scale forex trading scam

Mauritius Police are reportedly investigating a suspected large-scale forex scam by unregulated and illegal online trading brokers, who promise them a good return on their investments.

According to reports, a dozen of Mauritians have reported to have been swindled out of their hard-earned cash so far.

However, police estimate that the number of victims “could be in the hundreds”.

The victims were reportedly contacted via Facebook Messenger.  

The modus operandi was similar for most victims: The caller introduces himself as a “Professional Forex Trader”. Once the person accepts to pursue the conversation, the scammer explains a link to register for the investment plan.

The victims are then asked to transfer the agreed “investment amount” via a credit card.

Once this is done, the page disappears.

While there are various variations of online trading scams, including those trading in stocks, crypto-currency, precious metals, commodities and binary options, forex trading scams have emerged as the most lucrative for criminals in recent months, according to security experts.

Source: Defi Media