Barbadians are once again being urged to steer clear of two online scams designed to trick unsuspecting individuals out of their hard-earned money.
Minister in the Ministry of Finance, Ryan Straughn, first raised the alarm about an Instagram post using the logos of four financial institutions—City of Bridgetown, Sagicor, CIBC, and RBC. The post promotes a tier one wallet investment scheme, purported to give extraordinary returns in exchange for an initial deposit. Interested individuals are instructed to send a direct message for further details.
Straughn appealed to citizens to ignore such schemes: “All I can do is to urge Barbadians to please, please, do not contact these persons. Ignore these because none of these financial institutions are associated in any way with this scam and the person is trying to give some kind of familiarity with recognised brands of financial institutions in Barbados in order to solicit money from unsuspecting Barbadians.”
Then, on Saturday, Straughn exposed another scam—this time targeting travellers. A website, https://barbadostravelform.org, is falsely claiming to process visitor entry forms for Barbados and charging US$39 as a service fee.
The minister made it clear that any information submitted on this fraudulent site does not reach Barbados’ Immigration or Customs departments, nor does any of the money go to the Treasury. He explained that the Government of Barbados provides the service free of charge at the website www.travelform.gov.bb and there is no requirement to pay for a travel form.
These recent scams highlight a growing reality: fraudsters are becoming increasingly sophisticated and widespread. While the online space offers tremendous benefits, it also presents significant risks and there are pitfalls we must avoid.
The fraudulent investment scheme mimicking well-known financial institutions demonstrates that scammers will go to great lengths to deceive individuals. Their ability to create convincing online facades, coupled with the allure of quick riches, makes these scams dangerously effective.
The fake travel form website further highlights the dark intelligence of these criminals. Their targets range from retirees, and local investors to international tourists, demonstrating a relentless pursuit of vulnerable individuals.
The message is clear: we must adopt a healthy scepticism towards any financial opportunity that sounds too good to be true.
We have seen too many stories of people losing thousands of dollars.
Just as we exercise caution while transacting our day-to-day business, we must be doubly cautious in the online space.
Experts have warned us to be wary of unsolicited investment offers, especially those promising high returns with little risk. Before rushing to click and sign up for a fast dollar we must verify the legitimacy of any financial institution or online service. A check with official sources can help to confirm whether or not they are authentic.
We should also research any investment opportunity thoroughly. Seek advice from reputable financial advisors. Be especially cautious of offers promoted through social media and never rush to share sensitive personal or financial information with unknown individuals or websites.
Moreover, use common sense. If you are being asked to pay for a service that is normally free, double check with reputable sources and report any suspicious offers to police or agencies such as the Fair Trading Commission.
Beyond these online scams, the rise of fake news and deepfake videos featuring public figures to endorse fraudulent investment schemes is alarming. We’ve also seen a disturbing trend of websites impersonating Barbados TODAY to spread misleading information. Rest assured, we maintain the highest ethical standards and will never participate in such fraudulent activities.
It is crucial that we stay informed, exercise caution, and report scams to protect ourselves and our communities from these traps.
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