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'Wild West' However, the perpetrators of such frauds are now adopting new methods and technologies to defraud the investors. He adds: "Telegram has become my primary news source." 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. Perpetrators of such fraud use various marketing techniques to attract subscribers on their social media channels.
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