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Scam alert! Facebook posts promoting ‘Key Traders Investment’ may be out to steal your money

IN SHORT: Facebook posts are promoting an investment platform called Key Traders. But be warned, it is a scam.

“AM HERE TO INTRODUCE YOU TO A WONDERFUL PLATFORM THAT IS REALLY PAYING  IT IS CALLED KEY TRADERS INVESTMENT,” reads a post on Facebook. 

The 10 October 2023 post claims that the platform can double users’ money in just 45 minutes. 

It also includes a WhatsApp link and encourages those interested to reach out.

With Nigeria’s inflation on the rise, many will be looking for alternative ways to make money. This could lead to social media users losing what little they have to shady investment schemes.

Similar posts can be found here and here.

But is the investment platform to be trusted? We checked.

Key Traders investment scam

Signs of a scam

The posts say that any amount invested will be doubled in 45 minutes. This return on investment is obviously too good to be true. 

In a tweet in 2022, Nigeria’s Economic and Financial Crimes Commission, which is responsible for combating financial crimes, urged users to be wary of businesses offering unrealistic returns.

The posts ask users to send messages via WhatsApp to “join”. This is a common trick used by fraudsters to steal users’ personal or banking details.

We clicked on the WhatsApp link in one post and were prompted to send an automated message that said: “Hello Sir I’m interested in the platform (Jama Life Global Investment Platform) how can I invest?”

This is suspicious, as the Facebook post advertised “Key Traders Investment”, not “Jama Life Global Investment Platform”. 

Africa Check has previously exposed a platform with a similar name – Jama Life Global Helpers – as an investment scam. 

A search for “Key Traders Investment” on Nigeria’s business register came up empty. Businesses are required to register with the country's Corporate Affairs Commission before they can operate.

All signs point to Key Traders Investment being a scam.

Read our guide on how to spot risky investment schemes here.

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