Recently, cases of inducing investors to commit fraud through live streaming stock recommendations are constantly occurring. This issue's "Investor Protection" promotional column will reveal live streaming stock recommendation scams through real cases.
1. Case Review
Mr. Wang from Doumen, Zhuhai, usually spends his free time scrolling through short videos and watching live broadcasts. But the last time he went live streaming, Uncle Wang never expected that he would lose nearly a million yuan in savings as a result!
In early November 2023, Mr. Wang came across a live stream about stocks on a short video app. As an experienced stock investor who pays close attention to the stock market, Mr. Wang clicked on it to watch.
Although the popularity of this live streaming room is not high, Mr. Wang thinks that the anchor's stock recommendations are explained well. There are also words on the screen of the live streaming room such as "come and get today's low price 'explosive stocks' for free", which also makes him a little tempted. So Mr. Wang took the initiative to add this anchor's WeChat.
After adding WeChat, the stock recommendation teacher told Mr. Wang a lot about the "insider" of stocks and introduced him to an APP, saying that the APP is an internal channel that retail investors like Mr. Wang can also buy and can earn more money in a short period of time.
After hearing this, Grandpa Wang was deeply moved and immediately downloaded the app.
In the following days, under the guidance of his teacher, Mr. Wang made multiple purchases of stocks on the app. As he did earn several thousand yuan in the middle and withdrew it to his bank card, he began to trust the stock recommendation teacher more and more.
Over the course of a month, Mr. Wang has recharged nearly one million yuan on the platform for stock trading. Unexpectedly, recently he applied for withdrawal in the app, but what he received was' unable to receive the funds'.
Mr. Wang quickly contacted the stock recommendation teacher, who said it was Mr. Wang's operational error and that he needed to brush another 100000 transactions to successfully withdraw.
Mr. Wang thought to himself that by recharging the money, he could withdraw all the money. At this moment, the Zhuhai Anti Fraud Center called 96110 to remind him that this was a fraud.
After some persuasion from the police, Mr. Wang finally realized that he had been deceived.
2. Unveiling Live Stock Recommendation Scams
1. Spread a wide net and create the persona of a "stock recommendation expert"
The fraudsters will put a large number of advertisements on various social platforms, WeChat groups, friend circles, and online search engines, and claim to master various investment skills and insider information in the comment areas of Weibo, Tiktok, Zhihu and other APPs, so as to attract the victims and add friends of the victims.
2. Join the group chat and throw out the "high return" bait
Fraudsters pull victims into so-called investment group chats and organize "water armies" to play investors in the group, sharing a large number of profit screenshots, praising "high return" investment projects, and taking advantage of the victims' psychological weaknesses to induce them to download fake investment apps.
3. Quickly make profits and induce increased investment
Fraudsters will use short-term quick profits to give victims a taste of sweetness, and then continuously induce victims to increase their investment amount with reasons such as "internal information", "platform loopholes", "large investment and high profits".
4. Fabricate reasons and swindle away all the money
When the victim's account has a large amount of money to withdraw, the scammer explains the withdrawal failure with various reasons such as "abnormal login", "server maintenance", "bank account freeze", etc.
Subsequently, taking advantage of the victim's eagerness to withdraw funds and inability to let go of the "sunk costs," the victim was induced to transfer money again using reasons such as "margin," "unfreezing funds," and "bank statements," until the victim's money was drained.
3. Keep in mind four tips for preventing fraud
1. Understand how to recognize
If you have a need to purchase stocks, wealth management products, spot futures, etc., please choose a legitimate institution. Before investing funds, you can visit the official websites of the China Securities Regulatory Commission and the Futures Industry Association to learn about their qualifications or conduct on-site inspections of investment situations.
2. Don't be greedy
Don't blindly believe in so-called "insider information", "guidance from masters", "authoritative releases" and other claims. It should be noted that behind high investment returns, there are often various scams hidden.
3. Protecting Information
Do not easily add contact information of strangers or join unverified investment and wealth management groups, and do not click on unfamiliar links or scan unknown QR codes at will. Strengthen personal information protection awareness to avoid being deceived.
4. Timely stop loss
In case of fraud, please call 110 to report to the police as soon as possible! Don't take chances, don't get deeper and deeper because of the sweet words of criminals, so as not to suffer greater property losses.
