Investment scam

What happened

• Mr X, aged over 65, was contacted by someone he believed was a friend needing financial help.
• The request later escalated into a cryptocurrency investment opportunity with high returns and no risks.
• Mr X made multiple transfers and withdrawals, ignoring repeated bank warnings.

What happened next

• Communication eventually stopped and Mr X lost approximately $860,000.

How to protect yourself

• Be cautious when requests for help escalate into investment opportunities.
• Be wary of cryptocurrency-related investments.
• Take bank warnings seriously.
• Seek independent advice before moving money.