Police warn about WhatsApp investment scam

Two residents lost over MOP1 million to fraudsters pretending to be professional investors on WhatsApp chat groups, the Judiciary Police (PJ) revealed. The two residents were added to an investment chatgroup on the messaging platform, and were contacted by people self-identifying as investment managers who persuaded them to invest funds. Other users in the group would declare their own earnings from previous investments. The residents were then directed to wire transfer funds to commence investing, but were not able to withdraw their funds from the investment account when they attempted to do so. The police have reminded people to be vigilant against investment plans claiming to offer high returns.