Society
3 minutes
Fake profiles on the internet: fraudsters are posing as Flossbach von Storch, copying names and logos to lure people into dubious groups. Our warning: do not respond – there is a risk of total financial loss!
Fake accounts and scams: a rampant problem in the financial sector. Recently, there has been an increase in fake accounts on X, Facebook, Instagram and WhatsApp. Unfortunately, we and our colleagues at the Flossbach von Storch Research Institute have also fallen victim to fraudsters who use our names and photos, take company names and logos, copy content and thus imitate our identities.
It may appear professional – but it’s all fake. Fraudsters deceive our followers, send them direct messages, lure them with invitation links, fake apps, or advertisements into so-called “exclusive” stock-tip or crypto groups, promise “profits”, and ask for personal data. This is dangerous, as in the end it usually leads to a total financial loss.
What are we doing about it?
We report every single fake account, file trademark infringement claims with the relevant platforms, and report them to the police.
What are we not doing?
Under no circumstances would we ever contact our followers on social media to sell them something! We do not make reckless promises of profits, nor do we invite anyone to dubious chat groups with supposedly hot investment tips.
What can you do?
• If you come across suspicious profiles: please report them.
• Please also notify us at socialmedia@fvsag.com.
• Look carefully at who you are following. An account with a cryptic name, spelling mistakes, very few followers and no posts, but which sends direct messages? Best to steer clear!
• If you are asked to switch to private messaging services – do not comply. Sensitive information, such as bank details or personal data, is not secure there and can easily fall into the wrong hands.
• Further information on the topic of ‘Recognising financial fraud’ can be found on the website of the Federal Financial Supervisory Authority (BaFin).
• Better to be overly cautious once – than not cautious enough.
You can find a current overview of our genuine and official channels here.
About the author
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