Perpetrators of such fraud use various marketing techniques to attract subscribers on their social media channels. As the war in Ukraine rages, the messaging app Telegram has emerged as the go-to place for unfiltered live war updates for both Ukrainian refugees and increasingly isolated Russians alike. 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. The regulator said it had received information that messages containing stock tips and other investment advice with respect to selected listed companies are being widely circulated through websites and social media platforms such as Telegram, Facebook, WhatsApp and Instagram. Stocks dropped on Friday afternoon, as gains made earlier in the day on hopes for diplomatic progress between Russia and Ukraine turned to losses. Technology stocks were hit particularly hard by higher bond yields.
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