Fake financial advisor scams Tenerife woman out of €7,000
A woman in Tenerife has fallen victim to an online investment scam after being deceived by a fake financial advisor, losing more than €7,000 in the process.
Officers from the Guardia Civil’s @Team in Santa Cruz, working with their counterparts in Ciudad Real, have identified a 49-year-old man as the alleged perpetrator of internet fraud and money laundering.
The investigation began after the victim filed a complaint, explaining that she had been persuaded to invest €300 in what appeared to be a legitimate online trading platform promising high returns.
Shortly afterwards, she was directed to enter her personal information on a fraudulent website linked to the same supposed investment company. She then received a phone call from a man posing as an investment advisor, who claimed her initial investment had grown substantially, but that she now owed more than €7,000 in taxes to the Spanish Tax Agency.
The scammer told her that he had already paid the tax debt on her behalf and demanded reimbursement. Following his instructions, the victim made two transfers totalling €7,182 to bank accounts provided by the fraudster.
Following an investigation, officers managed to identify the suspect who is now facing charges of fraud and money laundering.
Guardia Civil issues investment warning
Authorities are reminding the public to exercise extreme caution when making online investments and to follow key safety guidelines:
- Always verify that the investment platform is registered with the Spanish Securities Market Commission (CNMV).
- Be wary of any promises of quick or guaranteed profits.
- Never transfer large sums of money without confirming the company’s legitimacy.
- Avoid sharing personal or banking details with unknown individuals.
- If you suspect fraud, stop the investment immediately and report it to the authorities.
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