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A couple loses all their savings, scammed by a fake wealth advisor!

The couple had invested part of the compensation received after the husband’s serious road accident, before paying out other sums over the years because they had been promised a very profitable interest rate.

Expert advice is also given to help you avoid them. The case of this couple is dramatic. For the first time, they bear witness to the savings account scam of which they were victims. It all started fifteen years ago, reports Ton Mag France. Victim of a serious road accident, the husband lost an arm and remained in a coma for a month, before recovering.

As a result, he was compensated up to 900,000 euros because he was the victim of the accident. The couple from La Manche bought a house, but wanted to put the money they had left to work. They searched the internet and found a wealth manager who promised them an unbeatable return of 8%. All the man and woman have to do is invest $200,000.

With 16,000 euros in interest per year, the promise is great. On M6, the couple tells how he fell into the trap. The scammers took care for months to call them, ask for family news, etc. For an expert interviewed in Scams, it is neither more nor less than hugs, that is to say to put them in confidence.

585,000 euros lost

In reality, all this has only one goal: to appease the victims. They are very well organized and enter into people’s private lives, wish them birthdays. In reality, this is all just a show. That’s what’s going to happen to this couple from La Manche. Taken into their confidence, they paid new sums over the months: 200,000 euros, then 50,000 euros, and another 30,000 euros, explains Ton Mag.

The couple didn’t realize anything until the day they wanted to have their car repaired. Needing cash, they call the famous wealth manager, but to their surprise, no one answers. We found no one. The number was no longer assigned, the website was blocked and the e-mail address could not be found, concedes the father.

They then realize that they have been victims of a huge scam. In total, they lost 585,000 euros. Nothing surprising, for a policeman, who speaks of a very frequent scam. He talks about organized gangs, data centers and crooks who email and phone all day.

For another expert interviewed, you have to be very careful before embarking on this kind of project: Zero risk does not exist, he says, before adding: Your savings account is at 0.5%… so 8% against 0.5%: you really have to ask yourself the question. It can only be a scam. The couple, devastated, lives only on the husband’s disability pension, ie 1,300 euros per month. Although he is ashamed of having been robbed, legal action has been taken. But there is little hope that he will get his money back.

The biggest investment scams and how to avoid them

The Paris prosecutor’s office, the AMF, the ACPR and the DGCCRF met on Monday, December 13 to warn of the upsurge in financial investment scams. While these scams are found in all areas, some are particularly popular with scammers.

How to stop the scourge of financial scams in France? The Paris Public Prosecutor’s Office, the Financial Markets Authority (AMF), the Prudential Control and Resolution Authority (ACPR) and the General Directorate for Competition, Consumer Affairs and Fraud Prevention (DGCCRF) have a new once sounded the alarm during a joint press conference at the Paris court on Monday, December 13. Their objective ? Make the general public aware of the worrying development of financial investment scams in France.

Because the situation is worrying. And even if, according to a BVA survey for the AMF, the French are aware of the risk of investment fraud (97% consider it important and 51% very important), this does not prevent fraudsters from acting. The Paris public prosecutor’s office estimates that the overall damage suffered by victims of financial fraud in France amounts to approximately 500 million euros per year. The danger is even on the increase, since the ACPR has observed a 300% increase in fraudulent entities over the past two years.

Many domains are affected by the phenomenon, but some are more profitable than others for scammers. The graph below shows the scams that generated the biggest losses for savers in 2020-2021.

After a lull of two years, forex trading scams (currency investment) are on the rise again and have caused an average of nearly €38,000 in damage to savers, according to the AMF. The cryptocurrency market has been a favorite bait for investors this year, with losses estimated at €20,000 per victim.

More surprisingly, false investment offers in airport parking spaces or in nursing home rooms (accommodation establishments for dependent elderly people) generated respective losses of more than 50,000 euros and 70,000 euros. Dantesque numbers. But how do the criminals set up their schemes to achieve their ends?

The modus operandi of scammers and ways to escape them

Their techniques are now well known, although some people still fall for the trap. Generally, savers are attracted by misleading advertisements on the Internet, via social networks, electronic mailboxes, but also on mobile messaging applications. Once the victim clicks on one of these banner ads, their personal data is collected through an online contact form.

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They are then approached by false advisers who put them in trust. After a first small investment, often presented as beneficial and allowing a first gain, the victim is invited to invest a much larger sum. However, when she wants to get her money back, she finds herself without news and unable to access her account: the scam worked.

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