The Trinidad and Tobago Securities and Exchange Commission (TTSEC) has issued a critical public advisory regarding an alarming proliferation of sophisticated investment scams. In an official statement released November 27, the financial regulatory authority detailed how fraudsters are deploying increasingly advanced tactics, including artificial intelligence-generated content, to deceive potential victims.
According to the TTSEC, modern investment scams employ a multi-faceted approach to gain victims’ trust. Fraudsters create convincing fake social media profiles using stolen imagery and minimal personal information. These operations frequently promise unrealistic financial returns, such as generating $30,150 from a $2,000 investment within mere hours, to entice victims with impossible guarantees.
The commission highlighted that scammers typically migrate conversations to private messaging platforms like WhatsApp or Telegram after initial contact. There, impersonators posing as legitimate investment representatives provide false assurances using fabricated documentation. The TTSEC specifically warned about scammers’ growing use of AI technology to create convincing fake documents, profiles of high-ranking officials, and even counterfeit video messages featuring supposed institutional leaders.
Other red flags include urgent deposit requests to ‘secure limited spots,’ false claims about fee-free investments, and completely fabricated investment platforms that display exaggerated account balances to simulate profitable returns. Victims often face subsequent demands for substantial withdrawal fees exceeding $1,000, followed by additional payment requests.
The advisory further cautioned against sharing sensitive personal information, including ID card images, credit card details, passwords, or bank PINs with unknown individuals. Scammers may also request funds through third-party money transfer services, potentially implicating victims in money laundering schemes.
The TTSEC emphasized that these operations frequently employ fake testimonials and staged social media content to create false social proof. They maintain persistent pressure through multiple communication channels and typically cease all contact when victims express doubts or request refunds.
The commission urges the public to exercise extreme skepticism toward unsolicited investment opportunities, particularly those promoted through social media or messaging applications. Verification of registration status for any individual or entity can be conducted through the TTSEC’s official website at https://www.ttsec.org.tt/registration/registered-companies-individuals-and-securities/
Suspicious activities should be reported immediately to marketcomplaints@ttsec.org.tt.