The trap can begin with a payment of just Tk150, but the promise of much bigger returns is where victims risk losing their money.
More than 1,000 Facebook and WhatsApp pages are allegedly using the Dhaka Stock Exchange’s (DSE) identity to lure investors into fraudulent schemes, with fraudsters exploiting fake identities, misleading investment advice and promises of unusually high profits.
Scammers also approach people through WhatsApp, initially paying Tk150 via bKash for liking online posts or writing reviews. Once they gain their trust, they entice victims to invest Tk10,000 with promises of substantial profits before taking their money.
The scale and tactics of the deception emerged on Monday at a seminar titled “Digital Deception and Scam Alert”, held during the closing ceremony of World Investor Week.
The DSE has identified 81 groups linked to suspected fraud, classified 25 as highly suspicious and lodged complaints against six with the Bangladesh Securities and Exchange Commission (BSEC).
Presenting the keynote paper at the seminar, DSE General Manager of Information and Communication Technology Abu Nur Mohammad Hasanul Karim warned that offers of returns as high as 30 per cent without a credible business plan were a major red flag, particularly when legitimate banks generally offer single-digit returns.
Karim said the DSE had detected and blocked approximately 6,300 cyber threats up to 2026.
Citing a US intelligence agency, his presentation said global fraud involving “pig butchering”, romance scams and fake employment offers had cost victims $7 billion in 2025.
BSEC Commissioner Nahid Mahtab warned that fraudsters prey on greed and the desire for quick wealth. He urged investors to verify unfamiliar individuals and organisations before transferring money.
He also cautioned against judging a company’s financial strength solely by its profits, stressing the need to examine operating cash flows, investment activities and financing information.
BSEC Commissioner Md Nafiz Al Tarik said fraudulent schemes did not always advertise unusually high returns. Some instead displayed steady profits to appear credible.
Investors should therefore investigate the source of consistently positive returns, particularly when markets are fluctuating, he said.
BSEC Commissioner Hossain Sadat said meaningful investor protection depended not only on repeated awareness campaigns but also on individuals acquiring knowledge, understanding financial risks and acting responsibly.
Earlier, DSE Chairman Mominul Islam warned that fake social media identities and misleading investment advice were causing financial losses and eroding confidence in the stock market. He called for stronger surveillance, law enforcement and investor education.
