Scam check: 8 warning signs of investment fraud

It almost always starts with an ad: free stock tips, a trading course or a supposed celebrity sharing a secret recipe. One click leads into a WhatsApp or Telegram group. There an "expert" shares tips for weeks, and other members cheer about profits. Many of them belong to the fraudsters. Then you are asked to sign up on a platform or app. Your account quickly shows profits, and a small withdrawal even works. That builds trust. According to BaFin, though, the account movements are fake, and usually nothing is invested at all. When you try to withdraw more, suddenly "taxes" or "fees" appear. In the end the contact is gone and so is the money.

1. They approached you, not the other way round. An ad, a call, a message or a friend request from strangers.

2. It moves to a messenger. Reputable, licensed providers do not advise through WhatsApp or Telegram groups.

3. High gains without risk. Anyone promising safe dream returns is lying. Higher chances always mean higher risk.

4. Celebrities promote it. Pictures and videos of well-known people are used without their knowledge.

5. Time pressure. "Today only", "few places left": pressure is meant to stop you thinking.

6. Money to unknown accounts or crypto. You are told to transfer to a private account, a foreign account or a crypto wallet.

7. Remote access or an ID copy. Someone wants access to your computer via AnyDesk or TeamViewer, or a copy of your ID.

8. Withdrawal only after a fee. Before you get money, you must first pay "taxes", "fees" or an "unlock charge".

Search the company name in BaFin's company database. It lists banks, brokers and financial service providers licensed in Germany. Also look at BaFin's warnings, where it keeps naming unauthorised offers. Important: fraudsters often pose as real firms. So compare the website, phone number and address with the details in the database. If in doubt, call the firm on the number from the database, not the one from the message. And: a licence is no seal of quality. It only means a company is supervised. The free BaFin consumer helpline on 0800 2 100 500 answers questions.

First: pay nothing more, whatever reason they give. Second: call your bank immediately. Sometimes a transfer can still be recalled, and card payments offer more options. There is no guarantee. Third: keep evidence: screenshots, chat histories, emails and bank statements. Fourth: report it at any police station or through your federal state's online police station. If you allowed remote access, have your computer checked and change passwords. The Verbraucherzentrale offers advice. Be honest with yourself: the Verbraucherzentrale rates the chances of getting money back as very poor. The fraudsters are usually abroad.

Copy this text and pass it on:

"Quick favour: if anyone offers you an investment on WhatsApp, Telegram, Facebook or by phone, do not transfer anything and do not click links. Not even if a celebrity appears in the ad, those videos are often fake. Real banks do not pull you into chat groups and do not promise safe high gains. Do not let anyone onto your computer with AnyDesk or TeamViewer. If something feels odd, call me before you pay. And if you have already paid: call the bank right away and go to the police. It is nothing to be embarrassed about, it happens to a lot of people."