A New Criminal Mechanism Activated Online: The Investigative Committee Warns

A new criminal mechanism has been activated online, through which Armenian citizens have already lost more than $500,000. This was reported by the Investigative Committee of Armenia.

“Since the end of 2022, advertisements circulating on social networks have offered citizens to register in supposedly profitable investment programs, promising significantly higher returns in exchange for certain investments. To increase attractiveness and create an illusion of credibility, these advertisements utilize images of famous individuals, names of well-known companies, and logos, employing artificial intelligence technologies. The authors of this fraudulent mechanism have swindled hundreds of individuals, taking not only their investments but also other funds received under various pretenses,” the statement read.

The Investigative Committee of Armenia advises citizens to verify the authenticity of any investment offers before accepting them and to avoid responding to excessively attractive offers published on unofficial websites that require no effort or work. Ensure that companies making investment proposals have licenses that are officially posted on the websites of the Central Bank or legitimate banks and organizations.