South Simcoe Police are warning that an investment scam is in the works

PRESS RELEASE
SOUTH SIMCOE POLICE SERVICE
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The South Simcoe Police Service would like to make the public aware of a scam circulating in our communities called the “Investment Scam”.

Investment scams can happen in many ways, but they are all filled with false promises and false guarantees. Scammers might post ads for investments that look real, but victims find they can’t withdraw the money they “invested.” In the “investment scam”, the victim sees pop-up advertising opportunities to invest online on various social media platforms. The victim responds to the ad, then the scammer calls them and asks them to download the “ANYDESK” app. This app provides full access to the victim’s device, where the scammer can obtain personal and banking information. The scammer will ask the victim to create an account and provide a small investment. The scammer then begins making electronic transfers to the “investment” account from the victim’s credit accounts and cash advances on credit cards. The scammer then transfers the money from the “investment” account via email to several other unknown accounts that the victim does not have access to.

Keep the following tips in mind to protect yourself. Don’t be intimidated by high-pressure sales tactics. Do some research on investments before you commit. Research the app you are recommended to download. Never download anything that would give access to your device/personal information. No one but the device user should have access to their devices. Never give out your personal information and don’t be afraid to say no. Trust your instinct. If it feels wrong, it probably is.

If you are the victim of a scam, report it to the police and the Canadian Anti-Fraud Center at 1-888-495-8501. Visit their website for more information on scams and tips to prevent being a victim

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