Investment fraud rises in Slovakia as scams target cryptocurrency interest

Investment fraud is increasingly targeting consumers in Slovakia, particularly through cryptocurrency schemes promising high returns. The consumer organization dTest warns that these scams often exploit the desire for rapid wealth, urging investors to follow the 'Do Your Own Research' (DYOR) principle and avoid projects lacking transparent contact information or independent verification.

Data indicates that while household investments in Slovakia reached 33.9 billion euros last year, fear of fraud remains a significant barrier. An IPSOS survey revealed that 17.3% of people refrain from investing specifically due to the fear of being robbed. Scammers are becoming more sophisticated, utilizing polished websites, artificial intelligence, and impersonating bank officials to manipulate victims emotionally.

To mitigate risks, experts and the National Bank of Slovakia advise consumers to verify any investment firm through the central database of regulated entities. Legitimate providers must hold specific permissions, and consumers are warned never to transfer money to 'safe accounts' or install mobile applications at the request of callers.