Covid-19 Related Scams

See the latest update from the Financial Markets Authority 


International Scams

International regulators have been issuing warnings about investment scammers who are exploiting the current market conditions and uncertainty due to the Covid-19 pandemic.

These include the following investment offers observed overseas:

  • Goods or industries experiencing strong demand, such as sanitary products or pharmaceutical companies
  • Products supposedly effective against Covid-19, such as vaccines, medications, protective gear or equipment
  • So-called “safe haven” assets, including cryptocurrencies or precious metals such as gold, silver or platinum

Scammers are also using common techniques to trick anxious consumers:

  • Phishing emails, claiming to be from health authorities, banks or insurers, trying to trick people into sending sensitive information, or open attachments with malware
  • Telephone scams, pretending to be from health authorities, claiming that a relative has fallen sick and requesting payments for medical treatment

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