Payback in 3 Hours? No Way! Global Investment Network is a SCAM

Recently, investment package scams are becoming more common while more related complaints arise. Many Asian investors, especially those in Malaysia, have fallen victim to these scams. Now, a new one has been added to the list of scammers - Global Investment Network, a company promising the profit to be earned within 3 to 6 hours after investing. Really?

After Online Tasks Done, the Commission Account was Frozen

According to the victim, she saw an advertisement for an investment package offered by Global Investment Network (hereinafter referred to as GIN) on Telegram and contacted the company through it. However, her experience did not start directly with the investment.

The victim was first offered to earn commissions for doing all 30 tasks by completing online shopping tasks. But after the tasks were done, she was told that her commission account was frozen and she needed to deposit to unfreeze it. But what's troublesome was that the frozen account hadn't been used for trading ever, so a direct deposit is not allowed- this is when the scammer finally leads the victim down the path of "investment".

A Rewarding Investment Plan with Short Period

The investment plan offered by GIN is very attractive, saying that you can start making profits within 3 to 6 hours after investing! At first, the scammer said that the minimum deposit was RM1000, and then lowered it to RM500, which seems to be eager to lure. But she didn't think much of it and filled out the investment information form first.

After submitting the form, the victim did not transfer money to the scammer right away as she was still waiting for the borrowed money to be credited. While waiting, the scammer kept asking and urging her, saying that the quota of RM500 Minimum Deposit was only 3 left and she would miss out if she didn't invest. The victim, who was afraid of missing out on the chance, transferred the RM500 to GIN within a few days.

A few days later, GIN told the investor that she has made a profit of $2820.54. However, due to the exchange rate, the withdrawal would require RM3600 to secure the account. According to the fraudster, the fee was only a temporary deposit that would eventually be returned to the victim's account and would not need to be paid again for future transactions.

The victim was a bit upset because she did not know that she had to pay an extra fee for withdrawal. How could she afford the RM3600 when she borrowed the RM500 she invested earlier? Unfortunately, the scammer didn't care about her situation and just kept on pushing her to pay the fee and didn't let her check her account details.

BrokersView Reminds You

Global Investment Network claims to be a currency broker while not regulated by any regulatory body. Combined with the victim's experience, there is no doubt that this is a fraudulent company.

What's more, the company was warned by the Securities Commission Malaysia (SC).

Many people want to improve their financial situation through investments, but in a market full of risks, there is no such sure business.

Be extremely careful when brokers unrealistically say that their investment products have very high returns and very short periods!