The Amazon Trading scam: how it works (and how to avoid it)

If you receive a call from an unknown number offering you to invest in the Amazon stock market with the promise of easy and safe earnings, beware: it is the scam called “Amazon Trading”. According to what Consob explains, nothing is invested: only one’s savings are transferred to the foreign account of the scammers.

The Amazon Trading scam: how it works

As reported by Repubblica, the scam mechanism is simple, but effective. Fraudsters impersonate themselves financial advisers to a company called Amazon Trading and invite people to register on their website to access one online trading platform. Once registered, the attackers require potential customers to pay a fee initial sum (usually 250 euros) by credit card or bank transfer to start trading on the stock market.

The scammers then show customers false statements that they attest to high profits and encourage them to invest more and more money, promising extraordinary returns. In reality, the money paid by customers does not come never invested in the stock market, but end up in the pockets of scammers, which will then disappear into thin air.

To avoid falling for this scam, you need to be wary of too tempting offers and always check the seriousness and reliability of the companies offering financial services. Besides, it’s good never give your personal and bank details to unknown people and do not make payments without being sure of the destination of the funds.

If you have been a victim of the scam or suspect you have been, it is important report the fact to the competent authorities (Postal Police or Guardia di Finanza) and contact a consumer association to obtain legal assistance and protect your rights.