The xauusd scam is a shared affinity fraud scheme that promises returns on small investments. They usually use forex trading platforms and leverage themselves to claim trades well over their initial investment. Be wary of these types of scams and look for the relevant governing body in your region to report them.
The Scam
The xauusd scam targets investors interested in forex trading and promises them a high return on their initial investment. This is a slick and effective scam as the early investors are motivated to recruit others into the scheme because of the success they see from their investments. These ‘investors’ often get lucky and make a lot of money, but then the fraudsters close down the scheme and take their profits.
A new trend that has emerged in recent years is affinity fraud’, where criminals target victims through dating apps like Tinder. The scammers lure victims by claiming to have discovered a high-profit trading system and using stolen photos of women and posing as women. They claim to have a high-flying lifestyle funded by the profits of their trades. The scammers also provide trading signals that they believe will churn out endless earnings from the market round the clock.
