Clone Investment Company Scams

Last Updated on by SCARS Editorial Team

Clone Investment Company ScamsScams A Scam is a confidence trick - a crime -  is an attempt to defraud a person or group after first gaining their trust through deception. Scams or confidence tricks exploit victims using their credulity, naïveté, compassion, vanity, irresponsibility, or greed and exploiting that. Researchers have defined confidence tricks as "a distinctive species of fraudulent conduct ... intending to further voluntary exchanges that are not mutually beneficial", as they "benefit con operators ('con men' - criminals) at the expense of their victims (the 'marks')". A scam is a crime even if no money was lost.

An Old ScamScam A Scam is a confidence trick - a crime -  is an attempt to defraud a person or group after first gaining their trust through deception. Scams or confidence tricks exploit victims using their credulity, naïveté, compassion, vanity, irresponsibility, or greed and exploiting that. Researchers have defined confidence tricks as "a distinctive species of fraudulent conduct ... intending to further voluntary exchanges that are not mutually beneficial", as they "benefit con operators ('con men' - criminals) at the expense of their victims (the 'marks')". A scam is a crime even if no money was lost. With A New Face

A SCARSSCARS SCARS - Society of Citizens Against Relationship Scams Inc. A government registered crime victims' assistance & crime prevention nonprofit organization based in Miami, Florida, U.S.A. SCARS supports the victims of scams worldwide and through its partners in more than 60 countries around the world. Incorporated in 2015, its team has 30 years of continuous experience educating and supporting scam victims. Visit www.AgainstScams.org to learn more about SCARS. Insight – How Scams Work

For Hundreds Of Years There Have Been Investment ScamsInvestment Scams When a caller claims to have a promising investment opportunity that will help you get rich quick, it's likely a scam. – But Today’s Scammers Have It Easier Than Ever!

From Romance Scams to Straight Investment Scams – Scammers Are Cloning Company Websites

Warning: Don’t fall victim to fraudulent investment opportunities

Investment scams can be hard to spot. Every year, victims lose hundreds of millions of pounds and dollars to criminals imitating genuine investment firms.

Even romance scams are morphing into investment scams, where the scammerScammer A Scammer or Fraudster is someone that engages in deception to obtain money or achieve another objective. They are criminals that attempt to deceive a victim into sending more or performing some other activity that benefits the scammer. lures in a victim with a fake relationship and then introduces an investment opportunity.

Victims worldwide are also being lured in by clicking on adverts that lead them to fraudulent websites designed to replicate the page of a real investment firm.

These Imitation Websites Are Known As “CLONED COMPANIES”.

Everyone needs to be aware of the increasing number of bogus investment websites, as even seasoned investors can easily be confused. Scammers are cloning websites with almost perfect attention to detail. And unlike many scams, Isreal seems to be a hub for many of these scams.

  • In the first six months of 2021, In the UK alone more than£36,000,000 was lost to ‘cloned company’ investment scams.
  • In the first six months of 2021, ActionFraudActionFraud Action Fraud is the UK’s national reporting centre for fraud and cybercrime where you should report fraud if you have been scammed, defrauded or experienced cyber crime in England, Wales and Northern Ireland. WEBSITE LINK received more than 1,100 reports, equating to an average loss of £47,000 per victim, when investing money in cloned companies – however, assuming that only about 1% of victims report these scams the real number of victims in the UK in those same 6 months could be over 100,000.

What Is A Cloned Company? And How Do They Target Your Savings?

They are set up by fraudsters using the name, address, and corporate identification of real companies authorized to sell securities and investments.

The criminals running these scams engage with victims through a number of channels.

  • Often they take out adverts on social media platforms and search engines designed to attract people to click on them by highlighting enticing offers of high returns.  The returns being promised by these criminalCriminal A criminal is any person who through a decision or act engages in a crime. This can be complicated, as many people break laws unknowingly, however, in our context, it is a person who makes a decision to engage in unlawful acts or to place themselves with others who do this. A criminal always has the ability to decide not to break the law, or if they initially engage in crime to stop doing it, but instead continues. gangsGangs A gang is normally a group or society of associated criminals with a defined leadership and internal organization that identifies with or claims control over a territory or business practice in a community and engages, either individually or collectively, in illegal, and possibly violent, behavior. Online gangs are not limited by territory and may operate side by side with other gangs while engaging in crime online. Some members of criminal gangs are initiated (by going through a process of initiation), or have to prove their loyalty and right to belong by committing certain acts, usually theft or violence, or rituals. Gangs are usually rougher and more visible than scammer cartels, and more often arrested. are often modest so as not to arouse suspicion, but slightly better than the market rate, therefore appealing to those looking for long-term, ‘safe’ investments.
  • Sometimes they are introduced through another scam or manipulative relationships, such as in the “Pig ButcheringPig Butchering This is a scam type that originated in China involving the scammer developing a relationship with the victim - sometimes romantic sometimes not - and leading the victim to invest in a fake company or asset. These typically target smart younger women.” form of romance scams. Where the victim is lured into a trusting relationship and then the investment opportunity is introduced.

How These Scams Work

Once a person clicks on the advert they are taken to an exact replica of a website belonging to a legitimate investment firm. The most sophisticated criminals will even clone the website domain name (i.e. the unique address registered to that site – usually with one letter off – these are called “typo domains”).

Once victims have registered their interest, they’ll be contacted by the offenders, who often obtain the names of genuine employees at investment firms and create seemingly legitimate company email addresses, but with very subtle changes such as one substituted letter (using the typo domain name).

There have also been instances of investors inputting their contact details into popular price comparison websites and then being phoned by criminals claiming to be from a well-known, legitimate investment firm.

Another tactic used by these criminals to target investors involves sending victims sales materials linking to websites of legitimate firms.

Eventually, given the false confidence by the various tactics used by cloned company scammers, victims will end up transferring their savings directly to criminal gangs under the false belief that they are sending them to a legitimate investment firm. Often, victims will not realize that they’ve been scammed until months later when they fail to receive quarterly returns or investment reports.

In some cases as a way to overcome skepticism, the scammers will ask for a small investment. Then wait a few days, and inform the customer that they had significant gains – in many cases even paying the profits back to the customer to get them hooked and ready for a much larger investment.

How To Protect Yourself

  • In today’s world, you cannot trust any unsolicited investment advice. Even if you click on an ad do not trust who follows up.
  • Reject unsolicited investment offers whether made online, on social media, or over the phone.
  • Be cautious when dealing with large sums of money, even if you initiated the first contact.
  • Look out for subtle differences such as letters replaced with numbers (e.g. S and 5, O and 0), additional words or spelling errors.
  • Make sure you’re dealing with an authorized firm, but remember these are public registers that fraudsters can also use or take information from to sound legitimate.

In the United States

Look up investment companies of the FINRA website here: BrokerCheck – Find a broker, investment or financial advisor (finra.org)

If you find a suspect website or fake company report them to the Federal Trade Commission immediately at: https://reportfraud.ftc.gov/#/?orgcode=SCARS

In the U.K.

Check the FCA Warning List of firms to avoid. Always check the  FCA Register to confirm the contact details provided to you by the firm. If the website, email and telephone number don’t match, don’t invest.

If you have visited a website, you think is suspicious, report it to the National Cyber Security Centre, using their quick and easy referral tool.

If you think you’ve fallen victim to an investment fraudFraud In law, fraud is intentional deception to secure unfair or unlawful gain (money or other assets), or to deprive a victim of a legal right. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation) or criminal law (e.g., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. The purpose of fraud may be monetary gain or other benefits, for example by obtaining a passport, travel document, or driver's license, or mortgage fraud, where the perpetrator may attempt to qualify for a mortgage by way of false statements. A fraud can also be a hoax, which is a distinct concept that involves deliberate deception without the intention of gain or of materially damaging or depriving a victim., report it to Action FraudActionFraud Action Fraud is the UK’s national reporting centre for fraud and cybercrime where you should report fraud if you have been scammed, defrauded or experienced cyber crime in England, Wales and Northern Ireland. WEBSITE LINK as soon as possible online at http://www.actionfraud.police.uk or by calling 0300 123 2040.

In Canada

You can verify investment companies at: https://info.securities-administrators.ca/nrsmobile/nrssearch.aspx

In Australia

Check an investment company or scheme – check if the company is licensed. A company that sells you investments must hold a license from ASIC, which controls what kinds of schemes they can sell you. Check the list of unlicensed companies. Check the product disclosure statement. Check if they are a registered public company. Check ASIC lists – Moneysmart.gov.au

In Other Countries

Always look in Google for the official government investment company registry, and search to find if they are not only registered but also their real contact information and website.

Always Get Impartial Advice Before Investing

No matter what your situation, always ask a professional about any opportunity before you make an investment. Many banks also have investment departments that you can ask.

Also never send money to an investment firm outside of your own country. Each country has regulations to protect consumers, but if you invest outside of your country there are no controls and no recourse.

More Information

Essential Tools For Every Scam Victim From SCARS

Each is based on our SCARS Team’s 30 plus years of experience.

SCARS GREN BOOK - The SCARS STEPS Guide to Scam Victim Recovery

SCARS GREEN BOOK
Self-Help Self-Paced Recovery Program Guide

LEARN HOW TO RECOVER ON YOUR OWN

This program is designed to help scam victims struggling to recover on their own and for those who want to understand the overall process. You can be using other resources, such as traumaTrauma Emotional and psychological trauma is the result of extraordinarily stressful events that shatter your sense of security, making you feel helpless in a dangerous world. Psychological trauma can leave you struggling with upsetting emotions, memories, and anxiety that won’t go away. It can also leave you feeling numb, disconnected, and unable to trust other people. Traumatic experiences often involve a threat to life or safety or other emotional shocks, but any situation that leaves you feeling overwhelmed and isolated can result in trauma, even if it doesn’t involve physical harm. It’s not the objective circumstances that determine whether an event is traumatic, but your subjective emotional experience of the event. The more frightened and helpless you feel, the more likely you are to be traumatized. Trauma requires treatment, either through counseling or therapy or through trauma-oriented support programs, such as those offered by SCARS. counselingCounseling Counseling is the professional guidance of the individual by utilizing psychological methods especially in collecting case history data, using various techniques of the personal interview, and testing interests and aptitudes. A mental health counselor (MHC), or counselor, is a person who works with individuals and groups to promote optimum mental and emotional health. Such persons may help individuals deal with issues associated with addiction and substance abuse; family, parenting, and marital problems; stress management; self-esteem; and aging. They may also work with "Social Workers", "Psychiatrists", and "Psychologists". SCARS does not provide mental health counseling. or therapy, qualified support groupsSupport Groups In a support group, members provide each other with various types of help, usually nonprofessional and nonmaterial, for a particular shared, usually burdensome, characteristic, such as romance scams. Members with the same issues can come together for sharing coping strategies, to feel more empowered and for a sense of community. The help may take the form of providing and evaluating relevant information, relating personal experiences, listening to and accepting others' experiences, providing sympathetic understanding and establishing social networks. A support group may also work to inform the public or engage in advocacy. They can be supervised or not. SCARS support groups are moderated by the SCARS Team and or volunteers., or completely independent – on your own!

The SCARS Steps program is a complete program and is provided for the purpose of helping scam victims to overcome this experience. Throughout this SCARS Steps Program, we speak about issues and challenges that a victim may have and help guide them through their recovery. But each person is different and it is important to understand your own reasons for being vulnerable to being scammed.

After the trauma of being scammed, you need to take steps to recover and move on. This may be an alternative to counseling in the short term, but we still encourage you to seek out professional help & support. Throughout this SCARS Steps Program, we speak about issues, challenges, defects, or problems that a victim may have in a generalized way.

The SCARS GREEN BOOK will help you recover from your scam offline and it will always be there when you need it!

Get it here

SCARS BLUE BOOK - Survivor's Recovery Journal

SCARS BLUE BOOK
A Unique SurvivorSurvivor A Scam Survivor is a victim who has been able to fully accept the reality of their situation. That they were the victim of a crime and are not to blame. They are working on their emotional recovery and reduction of any trauma either on their own, through a qualified support organization, or through counseling or therapy. And has done their duty and reported the crime to their local police, national police, and on Anyscam.com’s Recovery Journal

THE PERFECT DAILY JOURNAL FOR SCAM VICTIMS IN RECOVERY

Give yourself the perfect tool to measure and track your recovery progress while getting the therapeutic benefit of journaling!

This official SCARS Self-Help Recovery Program Journal allows you to record your journey day by day, to be able to look back and see your progress, and measure your achievements. While this is a difficult time in your life, it will get better in time and journaling is an important way to help you through many of those moments, but also to show yourself how strong you are!

The Official SCARS BLUE BOOK is your way of recording this struggle and help yourself through it.

A special discount is available when buying 3 at a time.

Get it here

SCARS RED BOOK - Your Personal Scam Evidence & Crime Record Organizer

SCARS RED BOOK
Your Personal Scam Evidence & Crime Record Organizer

ORGANIZE YOUR INFORMATION TO MAKE THE REPORTING PROCESS SIMPLE!

Helps you get and stay organized. This publication is to help Scam Victims organize their crime information. Complete this information before reporting to the police then bring this book with you

Before or after reporting to the police the RED BOOK gives you a dedicated tool to record all the essential facts of this crime. The Victim, the Scammers, the Money, and your Police interactions. Everything that really matters can be easily recorded for your immediate use and for the future!

As we have seen, money recovery/repayment programs can become available years after the scam ends and you need to keep all the details of this crime in case it is needed. We have also seen scammers being extradited to the U.S. and other countries, this will help in the event you testify or give statements, Additionally, this helps you have your information ready to qualify for victims’ benefits, compensation, or aid.

The Official SCARS RED BOOK is your way of recording all the important facts of this crime so that you do not lose essential information, Complete the RED BOOK then put it away with the confidence that you will have it if or when it is needed.

Get it here

SCARS LIME BOOK - Wisdom & Motivation for Scam Victims

SCARS LIME BOOK
Wisdom & Motivation for Scam Victims

A SURVIVOR’S GUIDE FOR MOTIVATION & WISDOM ABOUT SCAMS & RECOVERY

After the scam, life is filled with challenges and uncertainty. So many things are going wrong and how do you recover from the experience. There is a way. In the SCARS GREEN BOOK we present the complete SCARS Steps Recovery Program, but there is more to it.

You need to keep yourself motivated and understand that you are not the first person to go through this. The SCARS LIME BOOK helps you stay positive and motivated, and gain the wisdom that comes from helping millions of scam victims that SCARS has done.

This small book is packed with motivational insights and survivor wisdom to help you get up every day, make it through the through times, and sleep assured that time heals all emotional wounds.

The Official SCARS LINE BOOK is your way of reminding yourself every day that you are strong and can make it through this!

Get it here

SCARS SLATE BOOK - A Guide For Families & Friends Of Scam Victims

SCARS SLATE BOOK – A Guide For Families & Friends Of Scam Victims

HOW TO HELP ROMANCE SCAM VICTIMS FOR FAMILIES & FRIENDS OF SCAM VICTIMS

This SCARS Publishing book represents a complete guide to help the families and friends understand how these scams work and how to help the victim.

The SCARS Slate Book should be purchased by family and friends to better understand what happened to the victim and the traumatic impact on them. But it can also be shared by the victim so that they do not have to explain to family and friends about the scam. This publication is to help others to help Scam Victims to make it through this traumatic experience and recover.

Each person is different and it is important to understand how relationship scamsRelationship Scam A Relationship Scam is a one-to-one criminal act that involves a trust relationship and uses deception & manipulation to get a victim to give to the criminal something of value, such as money! Click here to learn more: What Is A Relationship Scam? work and why people are vulnerable; to being scammed, how they were lured in, then groomed and manipulated. This understanding is essential in helping them through the process of ending the scam and then on to recovery. The SCARS Slate Book will provide the information necessary to help support a victim through this process.

Get it here

SCARS PEARL BOOK - The SCARS Online Safety Password Log Book

SCARS PEARL BOOK – The SCARS Online Safety Password Log Book

AN ONLINE SAFETY TOOL FROM SCARS HELPS YOU TO STAY SAFE ONLINE!

We all know that we need to create and maintain stronger & safer passwords, but how can anyone possibly manage them? Actually, the process is not that hard with the right tools. Every only user needs to have two items: 1) a Password Manager App (such as LastPass or TrueKey), and 2) a master password log book!

But if you have a password manager app why do you need a logbook too? Because what if you are unable to access your password manager? What do you do then? The truth is that all software can be unavailable at times, or what do you do if you forget the password to your password manager? The answer is to have a backup logbook where you store all of your passwords in an organized way.

The SCARS PEARL BOOK helps to remind you about how to create strong passwords and how to keep them safe, but most importantly organizes all of your passwords in one place by accounts wor websites, making them easy to maintain and find when you need them.

Get it here

Always Report All Scams – Anywhere In The World To:

U.S. FTCFTC The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) U.S. antitrust law and the promotion of consumer protection. The FTC can also act as a clearinghouse for criminal reports sent to other agencies for investigation and prosecution. To learn more visit www.FTC.gov or to report fraud visit ReportFraud.FTC.gov at https://reportfraud.ftc.gov/#/?orgcode=SCARS and SCARS at www.Anyscams.com

Find Real Scammer & Fake Stolen Photos On ScamsONLINE.org
The SCARS Scammer Photo Gallery Website
Click Here To Donate To SCARS

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SCARS the Society of Citizens Against Relationship Scams Incorporated

By the SCARS™ Editorial Team
Society of Citizens Against Relationship ScamsSCARS SCARS - Society of Citizens Against Relationship Scams Inc. A government registered crime victims' assistance & crime prevention nonprofit organization based in Miami, Florida, U.S.A. SCARS supports the victims of scams worldwide and through its partners in more than 60 countries around the world. Incorporated in 2015, its team has 30 years of continuous experience educating and supporting scam victims. Visit www.AgainstScams.org to learn more about SCARS. Inc.

A Worldwide Crime Victims Assistance & Crime Prevention Nonprofit Organization Headquartered In Miami Florida USA & Monterrey NL Mexico, with Partners In More Than 60 Countries
To Learn More, Volunteer, or Donate Visit: www.AgainstScams.org
Contact Us: Contact@AgainstScams.org

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