Tip off for all the investors

May 25th, 2023

Over the past few months, it has been observed that cases of fraud and deception; against Iraqi citizens have been repeatedly occurred under the Pretense of investing in foreign exchange markets of cryptocurrency platforms.

The unlicensed companies take advantage of the simplicity of the investor and tempt him with imaginary returns. They initially demand small amounts, then after a few days the investor is informed of the profit and is asked to transfer more amounts to double the returns. Investors from outside Iraq are contacted with numbers that appear to be Gulf (a large and important difference between income and outcome), and they claim that they work in companies with well-known names to mislead investors and make them believe that they represent well-known companies.

Land numbers or mobile phones are often used that are effective for a specific time. Usually, the caller avoids bank transfer and requests a transfer via mobile phone or through another country to people with fake identities.

We warn and urge investors and citizens not to be drawn into these calls, which lead to huge material losses and consequences, in addition to significant psychological and social damage. We also hope that citizens make sure that companies operating inside Iraq obtain the appropriate license for the type of activity and report violations in order to take legal action against violators. For more information about licensed companies, . Click here

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