Brussels: Europe and the Arabs
In the first six months of this year, the Financial Services and Markets Authority (FSMA) in Belgium has already received nearly half the number of reports of online investment fraud compared to the same period last year. This is evident from the figures of the Financial Supervision Authority. According to what was reported by the local media in Brussels, the Belgian News Agency on Monday morning, which added: "In concrete terms, the authority received 1,332 reports of online investment fraud in the first half of the year, compared to 925 reports in the first half of 2023. Almost half of all reports of illegal activity concern fraudulent trading platforms and cryptocurrency scams.
The rise of recovery fraud is striking. These are scammers who pretend to be helpers to help victims of previous fraud recover lost funds. The number of reports of this type of fraud has increased by 60 percent.
Not only is the number of reports increasing, but the amount that victims lose is also increasing: on average, it reaches 20,000 euros per case.
Fifties and sixties
The figures from the FSMA also show that people in their fifties and sixties are mainly victims of investment fraud. The regulator said: "They often have space “They have more money to invest after paying off their house and the children have left home, but they are not always well informed about what to do and what not to do in the digital world.”
From Monday, the FSMA will step up its efforts to encourage the public to stay vigilant and report fraud. This is being done through a campaign and a new reporting form.