Don't fall into the trap: New online scam impersonates the Israel Electric Corporation and the Tel Aviv Stock Exchange
A sophisticated paid campaign on Facebook and Instagram impersonates the Israel Electric Corporation and the Tel Aviv Stock Exchange, using their official logos to lure unsuspecting investors into a stock and investment scam via WhatsApp groups.
In the past 24 hours, a sophisticated paid campaign has been circulating on social media platforms Facebook and Instagram, impersonating official institutional bodies with the aim of conducting an investment scam. The ads, published under a page named 'Israel Market Research', make unauthorized use of the official logos of the Israel Electric Corporation and the Tel Aviv Stock Exchange. The campaign lures users with promises of research materials on the energy and natural gas market, or a ranking of 'the 50 leading dividend companies in Israel'. After users fill out a form with their personal details, they are redirected to chat channels and WhatsApp groups where stock and investment scams are carried out. Matan Gidnian, founder of the Fisherman app for preventing scams and spam, was quoted in the article saying that this is an escalating trend where the names of the most official Israeli bodies are used to promote scams, cynically exploiting public trust in these institutions.