Investment fraud conducted using messaging services like WhatsApp or Telegram is on the rise. An increasing number of fraudsters are using chat groups to advertise apparent investment offerings and to gain the trust of potential investors. In the latest edition of its consumer information series, “Let’s talk about money” (</strong>Reden wir über Geld) the Austrian Financial Market Authority (FMA) explains how consumers can protect themselves against investment fraud in messenger groups, and what to do if fraud occurs.
Fraudsters are acting increasingly professionally.
Nowadays, it is frequently more difficult to detect investment fraud than it was only a few years ago. Fraudsters use social media, messaging services and AI-generated pictures, videos and voices, to create credible-sounding personas and investment offerings that sound genuine. Frequently, potential victims are invited to chat groups, in which apparent investors regale about the large profits they have made, while self-styled financial experts provide investment recommendations – with significant consequences: The FMA received 843 investment fraud reports with incurred losses totalling 20 million euro in 2025 alone.
What consumers should be aware of
Anyone who is invited to an apparent investment group should be particularly careful. Consumers should only invest in products they understand and should check out the provider of an offering with particular diligence. It is also recommended to check any warnings issued by supervisory authorities about the company in question. Particular care should be exercised where extraordinarily high and apparently risk-free returns are promised, where time pressure is used, and where communications are conducted exclusively via messaging services. Being requested to install remote access software or to divulge personal access information should also be understood as a clear warning signal.
What should you do if you are a victim of fraud?
Anyone who believes that they may be a victim of investment fraud should contact their bank immediately and file a police report. Suspicious profiles should also be reported as scams or attempted fraud on the respective platforms that they are on. Acting quickly can help to prevent further losses.
The current edition of “Let’s talk about money” can be found in English, along with all past editions on the website https://redenwiruebergeld.fma.gv.at/en. Further information about investment fraud is available (in German only) in the podcast episode “Die WhatsApp-Connection”. Listen now!
Follow “Reden wir über Geld” on Instagram too at @redenwiruebergeld. @redenwiruebergeld
Journalists may address further enquiries to
Boris Gröndahl (FMA Media Spokesperson)
Telephone: +43/(1)249/59-6010
Mobile: +43 676 8824 9995
E-Mail: [email protected]