Investment fraud is different from other financial scams as it targets people who can invest large sums of money. Scammers also use fake ads on social media, promising ‘guaranteed high returns’ if you invest just €250.
The sales pitch is designed to entice investors. In the final stage, the fraudster tries to keep the victim interested, urging them to invest more. Our expert discusses a few scamming methods and how to avoid them.
"}},{"componentType":"sectionTitle","title":"Venture capitalists don’t invest in magic and neither should you"},{"componentType":"paragraph","richBody":{"value":"Everyone is always looking for the 5-legged sheep, the magic investment that will multiply their initial capital, the one that will outperform all others. Scammers know this and exploit cognitive biases.
Never open the door to them. Scammers are professionals who use every trick in the book to convince their victims and get them to fall for their scam. Every question has an answer, which they have prepared in advance.
"}},{"componentType":"paragraph","richBody":{"value":"Scams start in different ways: a video on social networks, an e-mail, a meeting on WhatsApp or a dating app, an unsolicited call. But the story is the same each time: the scammer offers the victim a one-of-a-kind or unique investment, that nobody else knows about and you can reap the benefits of it.
"},"title":"A seemingly harmless message"},{"componentType":"paragraph","richBody":{"value":"Some cautious victims will start by investing a small amount. But once they've taken the bait, the scammer is merciless. That’s when the phone calls start, several times a day. ‘Look at how much you've already earned, you need to invest more to guarantee your returns’ and ‘this is a unique opportunity, you need to invest now’.
The victim is deceived by the investment app that scammers use to display their ‘profits’. Unfortunately, this app is controlled by the scammers. Everything is done to lure victims into investing more and then some.
"},"title":"The initial investment"},{"componentType":"sectionTitle","title":"When scammers get victims to lie to their bank"},{"componentType":"paragraph","richBody":{"value":"Some scammers even manipulate their victims' relationship with their bank. The aim is always to prevent any contact with the bank’s anti-fraud service and get them to pay more money.
They use the same old script. ‘The bank doesn't look kindly on these kinds of investments because you are taking money out of their system. Their anti-fraud service will call you to prevent you from investing and make you worried.’
To establish the credibility of their scenario, scammers often use the following methods:
Cryptocurrencies are tempting because they promise high returns over a short period of time. They are also very risky investments because of their extreme volatility. Scammers promise their victims high, risk-free opportunities through fake websites, ads on social media or phone calls.
They present themselves as experts who will take care of everything, reassuring victims who find these investments too complicated. Once they have convinced their victim, the scammers use the same method as Bernie Madoff. They use an app to show investors the high returns they have already made. The victims, who are tricked into believing the scam, continue to transfer money to the fake account that the scammers control.
"}},{"componentType":"highlight","richBody":{"value":"How to protect yourself?
Almost all victims of investment fraud have been contacted by a company that is specialised in recovering stolen funds.
These companies promise to recover money lost or given away in a scam, but ask for advances on legal fees, court proceedings and any taxes. Known as ‘recovery room’ fraud, the technique exploits victims' distress to steal even more money.
"}},{"componentType":"paragraph","richBody":{"value":""}},{"componentType":"sectionTitle","title":"Do you have any questions, or would you like to report fraud or phishing?"},{"cards":[{"cardSize":"small","cardType":"service","componentType":"serviceCard","image":{"extension":"png","original":"https://assets.ing.com/m/6e6f3de4c512a23f/original/Fingerprint-phone-hand-spot.png","transformBaseUrl":"https://assets.ing.com/transform/4c8f79aa-f653-430e-bd15-7a94e7640b59/Fingerprint-phone-hand-spot","type":"image","width":615},"intro":"Contact your Private Banker via the ING Banking app!","link":{"url":"/en/private-banking/contact/contact-us-private-banking"},"title":"Already an ING Private Banking client?"},{"cardSize":"small","cardType":"service","componentType":"serviceCard","image":{"extension":"svg","original":"https://assets.ing.com/m/14d29687b6f4df8/original/womansurprisedshockedhandmouth.svg","transformBaseUrl":"https://assets.ing.com/transform/3c10cc4c-720d-4dc7-8ddb-9438564f1d17/womansurprisedshockedhandmouth","type":"image","width":160},"intro":"Contact us","link":{"url":"/en/individuals/fraud-and-security/online-fraud/report-fraud"},"title":"Victim of fraud?"}],"componentType":"cards"}]},"hasMacro":false,"id":"a3ee4ea1-c4aa-4f10-ac36-2342c9edfcf8","localeString":"en-GB","mainHeaderZone":{"backLink":{"textLink":{"text":"Insights for those who look further","url":"/en/private-banking/news"}},"componentType":"editorialHeader","coreHeader":{"headerImage":{"extension":"jpg","original":"https://assets.ing.com/m/1b43ab30365c0068/original/Cyber-3.jpg","transformBaseUrl":"https://assets.ing.com/transform/185812b9-b7e0-4a57-952e-6a3382803ae9/Cyber-3","type":"image","width":2612},"subtitle":"Getting rich by tricking people to invest money requires persuasive arguments to get victims to comply. This type of fraud surged by 65% in 2024. Our anti-fraud expert Danny Moerenhout discusses the main scamming methods and how to spot and thwart them.","title":"Investment fraud attempts spiked 65% in 2024"},"date":"2025-06-11","readingTime":5},"publishDate":"2025-06-16T13:08:59.171+02:00"}}