The actors have sophisticated names such as “Global BR Finance” or “Liberty Trust Finance”. In total, there are 66 actors who all promise small savers big and quick profits through, for example, so-called AI-driven trading. Behind the facade, however, there are fraudsters who are now taking advantage of the hype around AI solutions.
These actors post lures on social media, in chat groups and other forums where they know they can reach potential investors. It can be a tempting offer to join this new trend and multiply your investment in a very short time, explains Moa Langemark, consumer protection economist at FI.
Promising price winners
Through various AI solutions, investors are promised, for example, access to an automated trading platform to find potential winning trades, or to invest in new AI technology.
It is common for an actor to be behind many different approaches and test them. If you notice that something works, you clone it, says Moa Langemark.
Small savers can then see how the money seems to grow on the trading platform, but the problems begin when it comes time to withdraw it. The contact person disappears and all traces are erased. However, it is not uncommon for another variant of fraud to be attempted, says Moa Langemark:
It is likely that you will be contacted again by a so-called “rescue company” with promises that you will get your money back - in exchange for that actor also being paid. It is a very cynical business.
Check in detail
The 66 actors have in common that they are not in FI's company register and do not have the right to offer financial services in Sweden. If you still choose to make investments, the recommendation is to ensure that the actor is included in FI's company register. If it is a foreign company, it can be checked through the home country's supervisory authority.
