"There are a lot of things that Telegram could have been doing this whole time. And they know exactly what they are and they've chosen not to do them. That's why I don't trust them," she said. Since January 2022, the SC has received a total of 47 complaints and enquiries on illegal investment schemes promoted through Telegram. These fraudulent schemes offer non-existent investment opportunities, promising very attractive and risk-free returns within a short span of time. They commonly offer unrealistic returns of as high as 1,000% within 24 hours or even within a few hours. For example, WhatsApp restricted the number of times a user could forward something, and developed automated systems that detect and flag objectionable content. However, the perpetrators of such frauds are now adopting new methods and technologies to defraud the investors. The Russian invasion of Ukraine has been a driving force in markets for the past few weeks.
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