Belgium’s financial regulator reported a sharp decline in WhatsApp stock-tip fraud during the first half of 2026, with consumer losses dropping to 2.08 million euros from 9.5 million euros in late 2025. The Financial Services and Markets Authority recorded just 76 complaints compared to 263 six months earlier, marking a steep decline since February. The scam operated through WhatsApp groups promoted on Facebook and Instagram, with fraudsters impersonating banks, news outlets, and prominent investors to lure victims into pump-and-dump schemes using fake trading apps.
Despite this improvement, fraudulent trading platforms and crypto schemes still dominated overall losses, accounting for 8.5 million euros or 66.5 percent of Belgium’s total 12.7 million euro fraud tally for the period. These fake platforms typically pose as forex or CFD brokers, enticing victims through online ads before blocking withdrawals after initial deposits averaging 250 euros.
FXnCO Insight
While WhatsApp fraud is receding following regulatory warnings, brokers should intensify client education around fake platforms that continue driving two-thirds of Belgium’s investment fraud losses.
Source: Finance Magnates