New scam taking place on social media platform

Experts have warned Americans of a new financial scam on the social media platform WhatsApp.

In the scam, imposters will create chat rooms and claim to be familiar financial advisers, often using the advisers’ information to appear more legitimate, according to a report from Forbes. After providing mainstream financial and market advice, the scammers will offer personalized digital currency or asset assistance for a fee with the goal of acquiring the victim’s personal information and money.

The experts cited in the article emphasized that individuals should be aware that financial advisers are not permitted to provide financial advice through social media platforms.

Read more: Forbes

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