FCA warns of Instagram forex scams

The British regulator Financial Conduct Authority (FCA) recently issued a warning that there is a new trend among the scam brokers – they have begun using services like Instagram and Facebook to lure gullible people with tempting offers about fast and big profits.
They are advertising these get-rich-quick scheme entirely on social media – they don’t even bother with making a website. What is more, they assume the identity of famous people on sites like Instagram, Facebook and WhatsApp to conduct these scams.
The FCA has issued a warning about two such profiles @chloehenx and @chloefxtrades, claiming that clients can get rich by following their signals. Once people invest as much as they can scammers disappear with the money.
I was sure something like that would happen, unfortunately. Most people are at home, constantly online, and scammers prey on their need to make money. Disgusting but unsurprising.

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