In the past, it was noticed that through bulk SMSes, investors were induced to invest in or purchase the stocks of certain listed companies. Despite Telegram's origins, its approach to users' security has privacy advocates worried. For tech stocks, “the main thing is yields,” Essaye said. Perpetrators of these scams will create a public group on Telegram to promote these investment packages that are usually accompanied by fake testimonies and sometimes advertised as being Shariah-compliant. Interested investors will be asked to directly message the representatives to begin investing in the various investment packages offered. However, the perpetrators of such frauds are now adopting new methods and technologies to defraud the investors.
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