A scam to be aware of (Ulan Bator)
Does anyone know how to get this to all InterNations branches worldwide or know whether InterNations would post a warning about a group of criminals particularly targeting expatriates for a share scam. Yes I have lost a material amount of money (~$30k) but a couple of poor people have lost nearly ~$0.5M.
There's now a group of 40 or so victims in contact with each other sharing information attempting to bring these criminals to justice or at least impede their activities and spreading the warning via groups such as I/N is just one tactic.
It's known as a boiler room scam and anyone being cold called about buying shares in IPOs should be immediately wary. The website of the supposed financial advising company and the companies whose shares they are selling are very sophisticated. The victims group's data shows this criminal gang has managed to steal millions so far.
These criminals are particularly targeting expats because then the police in the country where the expat is living aren't interested, nor those of the country the expat comes from and the scam is supposedly occurring in a country where the police are probably corrupt. The banks inevitably involved have also been unwilling to help or warn other customers.
I'll obviously give more detail if required but the warning should be simply that there is a boiler room scam currently underway and if any members are contacted to buy shares via cold calls they should not unless they can go to the offices of the finance advising company and/or get a certified statement of the authenticity of the company. Have a look at Protected content . for the various manifestations of this group - but if you can't get to that site let me know as the criminals are sophisticated enough to occasional mount campaigns against such. Protected content