100 reports of investment scam involving 150 million dollars

The police received more than 100 reports of investment scams last week involving losses of 150 million dollars.

The police details one case where a fake investment advertisement tricked a retired teacher through a social media post.

After joining the investment group, fraudsters disguising as 'stock investment experts' would lure victims into downloading an counterfeit investment application.

The victim followed instructions to transfer funds to various bank accounts more than ten times over six weeks.

The account would show the stock price doubling , but the victim could not withdraw any funds and fraudsters demanded an additional fee, resulting in a total loss of 3.6 million dollars.

Police warn the public to never trust investment adverts promising 'high returns, zero risks'.