67-year-old loses six-figure sum in investment scam

A 67-year-old man in the Imst district lost a low six-figure euro sum in an investment scam, ORF reported. He made several transfers to foreign bank accounts before a relative alerted him to the fraud.

According to police, the Austrian man learned about the supposed investment opportunities through a WhatsApp group. An alleged employee then persuaded him to install an app and sign membership agreements.

He subsequently transferred money to foreign accounts after being told this was the fastest and cheapest way to process the payments. The transfers caused total losses in the low six figures.