Fake Elon Musk videos circulate online prompting police warning about investment scams | #youtubescams | #lovescams | #datingscams



South Simcoe police issued a cautionary alert after two reported incidents involving fraudulent ads on YouTube and other social media platforms featuring billionaire Elon Musk offering investments starting at $250.


Police say the victims clicked the link provided and were prompted to share their contact information, becoming targets for scammers who initiated phone calls regarding purportedly “lucrative” investment opportunities.


The scams often involved suspects gaining remote access to victims’ computers, allowing them to transfer funds from the victim’s account to a website displaying fabricated returns.


“Scammers take the funds and continue to urge more investments with increasing dollar values,” the service stated.


According to police, in two reported cases, family members intervened before additional funds were lost.


PREVENT BECOMING A VICTIM


Police shared tips to reduce the risk of falling victim to an investment scam, including:


  • Avoid Remote Access: Never allow remote access to your computer, especially if prompted to install programs like Anydesk or Teamviewer.

  • Research: Carefully research investment opportunities, verify credentials, and confirm the source’s legitimacy.

  • Beware of Unrealistic Returns: Be skeptical of investments promising unusually high returns with minimal risk. “If it sounds too good to be true, it’s probably a scam,” police noted.

  • Resist Pressure: Resist high-pressure sales tactics that aim to rush decisions.

  • Protect Personal Information: Never share personal information with unknown individuals.

  • Verify Legitimacy: Never send money without thoroughly verifying the legitimacy of the recipient.

  • Consult Financial Advisors: Consult with qualified financial advisors before making significant investments.

  • Trust Your Instincts: If something feels off, cease communication.


The South Simcoe Police Service encourages residents to discuss the warning signs of investment scams with loved ones and friends.



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