Police Issue Warning Of Online Fraudsters

Despite repeated advisories and warnings to members of the public to be wary of online get rich quick schemes, the Bermuda Police Service (BPS) continues to receive reports of individuals being fleeced by online fraudsters.

One such scam, which we have previously warned residents about, continues to attract individuals with the promise of making a quick buck. It involves the use of social media (mainly Instagram) to promote a fraudulent scheme where residents are invited to deposit $1,000 into a local account for 10 minutes and in return, the resident will receive $10,000.

The Instagram account used to attract “investors” is @tara_gotbanz. That account has been confirmed as fraudulent.

The fraudulent scheme is also promoted/validated by local social media account holders as being a legitimate investment, although, those accounts are believed to have been compromised. To date, none of the persons who have deposited funds have received the $10,000 return as advertised.

Until recently, all funds from victims were deposited into a local bank account, although the BPS have since arrested the account holder, a local male, who remains on police bail. Since the arrest, the fraudsters now request residents to deposit funds into a different local bank account.

The BPS will continue to investigate and potentially arrest that person if they are found to be complicit.

Members of the public are advised, persons convicted of fraudulent inducement to invest or deposit, face a maximum sentence of seven years’ imprisonment.

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