SC alerts public on rise in investment scams promoted on Telegram

The Securities Commission (SC) has alerted the public on the sharp increase in investment scams promoted on the Telegram messaging application, with some even offering unrealistic returns of as high as 1,000 per cent within 24 hours.

In a statement today, the SC said since January this year, it has received a total of 47 complaints and enquiries on illegal investment schemes promoted through Telegram.

These fraudulent schemes...