IG issues warning of fake accounts spamming traders on social media
Electronic trading major IG Group notes that it is aware of fake IG accounts trying to spam traders on social media.
The broker says that it does not contact clients via DM’s for learning courses, crypto sales or anything other than client support once you contact IG.
Let’s note that, according to a recent survey among UK investors, hype on social media and in the news is driving new investors to take up high-risk investments. 58% of respondents agreed that constantly hearing about a certain investment on the news, on social media and from other people encouraged them to purchase specific investments.
Data provided by the City of London Police show Instagram and Facebook top list of social media used by investment scammers. The City of London Police says the use of social media by criminals is helping to buck the trend for typical investment fraud victims, with under 30s being most affected. Specifically, 27.5% of all investment fraud victims who mentioned social media in their report were aged 19-25.