IN SHORT: A Facebook account impersonating WapTV is promoting a false investment scheme with the aim of scamming Nigerians. It claims the investment platform can double your money within an hour, but this is not true.
One of the page’s posts, dated 9 August 2023, reads: “CLICK THE WHATSAPP BUTTON BELOW TO JOIN US **RISK TAKERS AND BELIEVERS ARE THOSE WHO SEE SUCCESS EASILY IN LIFE* *DOUBTING WON'T PAY YOUR BILLS BUDDY* *BELIEVE AND TRUST ME WHEN I ANNOUNCE THAT THIS PLATFORM IS REAL.”
The post features a video of a woman who claims to have received her payment from “Rubies”.
It has over 100 comments, mostly from users who say they’ve doubled their money through the platform and those looking to join.
But is the investment scheme genuine? We checked.
Signs of scams
Unlike official and genuine accounts of brands and organisations, fake Facebook accounts have a common pattern of not only making errors, but having fewer followers and less reach.
In this case, the official Facebook page of WapTV has 360,000 followers while the suspicious account has just one.
To apply for investments, users are directed to use the “money market feature” on the bank’s mobile app. We found no evidence of a WhatsApp link being used, as is the case in the Facebook post.
Credible investment platforms will also not promise to double your money within a short period of time. For more tips, read our guide on how to spot social media scams.
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