However, the perpetrators of such frauds are now adopting new methods and technologies to defraud the investors. 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. 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. 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. The SC urges the public to refer to the SC’s I nvestor Alert List before investing. The list contains details of unauthorised websites, investment products, companies and individuals. Members of the public who suspect that they have been approached by unauthorised firms or individuals offering schemes that promise unrealistic returns
from tw
