Sophisticated Counterfeit Investment Platforms: Scammers Perfect Their Deception
Jakarta — Fraud schemes are becoming increasingly diverse and sophisticated. Counterfeit investment platforms created by scammers that closely resemble legitimate platforms are now proliferating. The emergence of such fraudulent platforms has been occurring in Middle Eastern countries, according to reports from Gulf News.
Kaspersky has reported that more than 100,000 fraudulent investment platform impersonation attempts have been blocked since 2024 in the United Arab Emirates, Saudi Arabia, Qatar, and Egypt.
Many of these scams employ professional-looking dashboards, Arabic-language interfaces, and fake customer support channels to convince users they are dealing with legitimate services.
“Online fraud has become increasingly sophisticated because cybercriminals are investing significant effort to make it appear authentic,” said Olga Altukhova, Senior Web Content Analyst at Kaspersky.
Criminal groups heavily rely on trust-building tactics, often approaching users through social media advertising, messaging applications, or unsolicited calls.
After funds are deposited, the fraudulent platform displays fictitious profits despite no actual trading occurring.
Scammers also exploit gaps in consumer awareness by labelling some platforms as “halal” or “Islamic investments,” using culturally or ethically familiar signals to appear legitimate.
Altukhova noted that many victims overlook small warning signs, adding: “They rely on trust as their entry point… The important thing is to pay attention to basic details such as the website domain, spelling errors, payment methods, and signs of secure encryption before sharing any data or investing money.”
This warning is part of a joint awareness-raising effort with eToro, which stated that increased digital investment has created both opportunities and risks for retail users.
George Naddaf, Executive Director of eToro MENA, said scammers are exploiting the trend of growing investment interest among the population.
“Online investment has opened remarkable opportunities for people to grow their wealth and take greater control of their financial future. However, as the investment landscape expands, unfortunately, the number of scammers exploiting customer trust is also increasing,” Naddaf said.
He urged investors to conduct basic checks before transferring funds or interacting with any platform.
“Before transferring funds or sharing personal information, we urge investors to always verify that any platform they use is properly licensed and regulated… A few minutes of due diligence can protect hard-earned savings built over years,” he said.
How can users stay safe?
Experts recommend several practical steps for anyone considering online investment offers:
Use licensed and regulated platforms.
Double-check URLs, app stores, and encryption before entering details.
Avoid schemes promising quick or guaranteed returns.
Never share banking or personal data with unknown contacts.
Use strong passwords, enable two-factor authentication, and always update your devices.
Install cybersecurity software with anti-phishing protection.