Beware of WhatsApp Scams: Tracking the €100 Million Fake Job Offer Network

Countless job seekers have fallen victim to scams on WhatsApp, as revealed in the initial part of Euronews Next’s inquiry into this widespread fraud.

For instance, on December 20, 2022, Marc Bonvin, a macro analyst residing in London, received a message on WhatsApp from someone claiming to be “Amelia” from Adecco Ltd. The message inquired if he was interested in flexible job opportunities and offered to provide more information. Intrigued, Bonvin requested additional details. When the respondent began mentioning “big projects” and a generous salary through an encrypted wallet, he immediately recognized it as a scam.

The scam that targeted Bonvin is part of a widespread scheme that has already tricked an estimated €100 million from victims across the world, according to AI cybersecurity firm CloudSEK. Notably, this scam has impersonated major recruitment firms like Reed and Hays.

Adecco, the company impersonated in Bonvin’s case, issued a warning. It stated that no legitimate representative would ever request payment from a candidate.

Beware of WhatsApp Scams: Tracking the €100 Million Fake Job Offer Network

Keith Rosser, a group director at Reed and co-director and chair of JobsAware, a non-profit organization dedicated to safeguarding the UK labour market, revealed that this scam started in November 2022 and gained significant momentum in the UK from March 2023. JobsAware receives around 50 complaints daily regarding WhatsApp-based scams. They suggest that about 1,000 people in the UK are targeted daily.

The UK’s communications regulator OFCOM found that nearly one in three Britons encountered fake job advertisements.

Rosser is hopeful that the UK’s upcoming Online Safety Bill and JobsAware’s certification scheme will help reduce the prevalence of job scams. However, he remains pessimistic, suggesting that the scale of this issue is far larger than what is currently known.

Euronews Next attempted to contact the City of London Police, who were reportedly working on this scam with JobsAware, but they declined to provide further information.

To delve deeper into this prolific but underreported phishing scam, Euronews Next conducted an investigation.

The scam typically involves fake WhatsApp accounts posing as the app’s support team. Recipients of these scam messages often encounter variations in recruiter names. However, they consistently target individuals to perform tasks related to data optimization and online exposure. The lure is flexible working hours and generous compensation, often in cryptocurrency.

Victims typically receive messages like “May I share more information?” However, the scam takes on various forms and origins, making it challenging to pinpoint its source.

The most common type of scams observed is cryptocurrency scams

Euronews Next’s direct contact with scammers revealed that they enticed victims to perform tasks, promising substantial earnings. In one instance, the victim was asked to click on buttons and complete specific tasks in exchange for cryptocurrency payments. However, the money never makes it to the victim’s account but ends up in the scammers’ pockets.

These scams can be addictive. Initially, tasks give the illusion of easy money, making victims more susceptible to larger requests for deposits. Victims often end up pouring substantial amounts into the scam, driven by a desire to recoup previous losses.

Stuart McFadden explained that these scams are particularly appealing to individuals actively seeking work, especially in a remote setting. He is a co-founder of the fraud recovery firm Refundee. They are often lured by the prospect of earning money from home.

The most common type of scams observed is cryptocurrency scams, with task scams becoming the second most prevalent. Fraudsters frequently mimic well-known companies’ websites and establish team chats on messaging apps to make their operations appear more legitimate.

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These scams are tough to spot, and victims often end up investing large sums of money and time. Many continue to invest more money in a misguided attempt to recover their losses.

McFadden stressed the importance of awareness and regulatory intervention to combat these scams affecting individuals across different countries. Perpetrators target high-income, English-speaking countries, making it a global organized crime issue.