The Slovenia Times

Slovenians lose EUR 5 million this year in investment frauds


Ljubljana - The Slovenian Computer Emergency Response Team (SI-CERT) has warned about online fraudsters who persuade users to make fake investments in various forms of property as this kind of fraud is in the rise. This year the police dealt with more than 115 such reports with total damage estimated at over EUR 5 million, SI-CERT has said.

SI-CERT noted, as an example, investments in cryptocurrencies, which are attracting an increasing number of investors due to their potential profitability and optimistic forecasts.

"Many of them are encountering investment business for the first time, and beginners are also the main target of online fraudsters," it added.

The Slovenian police have been recording an increase in reports related to investments on fake online platforms for two years in a row. As many as 83 cases accounting for a total damage of more than EUR 2 million were dealt with in 2020.

This year, the number of reports was already at 115 at the end of August, while the amount the fraudsters managed to get from the damaged individuals more than doubled.

Many individuals, lured by promises of incredible profits, invested all their savings in such frauds, and often took out a loan or borrowed money from family, SI-CERT points out. The highest individual damage recorded last year was EUR 155,000.

In order to make it easier for individuals to identify investment fraud, SI-CERT has created a new episode called Cryptomania as part of its Click video series. It presents the story of a victim who lost all her savings and even fell into debt.


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