Veonco is an unregulated broker that offers trading platforms with leverage and non-traceable cryptocurrency payments as payment. This tactic has proven itself as an effective fraud scheme.
One victim met an unfamiliar individual through a dating app and started communicating via Line Chat. Over time, this individual convinced the victim to deposit money into an investment website, sending more over time – eventually she invested all her life savings with him.
Veonco is an online trading company
Veonco is an online trading platform known for being marred by scams. Owned by an unknown company and not listed anywhere, its identity cannot easily be confirmed; hence it should never be trusted with your funds.
This website boasts that they provide a range of financial tools and a trading platform with leverage up to 1:200, but do not provide any details regarding their trading platform, nor link their trading strategy with real trades or results. Furthermore, no indication is provided as to whether they are regulated.
Veonco Forex Broker lacks any clear corporate information and no regulatory license, making it unsafe for traders to deposit their funds with the company. They accept deposits and withdrawals using VISA, MasterCard, DISCOVER and PayPal with deposits made using either web-based MT5 trading platform or an unreliable custom platform as deposits/withdrawals options.
It offers a trading platform
Veonco is an online Forex and CFD trading site offering customers access to popular financial instruments, including forex currency pairs, indices, stocks and commodities. They claim they provide a professional trading platform offering automated trades with leverage; however, only three customer reviews exist and it does not allow withdrawals.
Fraudsters may target victims by approaching them on dating websites like Zoosk and gradually earning their trust over several weeks. Conversations then evolve into discussions of investing and trading platforms, prompting victims to put their savings with these fraudsters.
Veonco Group Ltd is an anonymous trading platform with no clear ownership details, so traders should avoid trusting an anonymous platform with their investments as this may lead to them losing them. Furthermore, their lack of live chat support should serve as a warning sign – possibly an indication that Veonco is untrustworthy and will try scam unsuspecting traders out of money.
It offers financial tools
Veonco boasts a professional-looking website and promises high returns on investments, but does not allow withdrawals, rendering the investment unreliable. Furthermore, only accepting cryptocurrency – making it virtually untraceable and irreturnable. This enables fraudsters to steal funds untraceably without ever being caught – is also common practice, giving scammers a way to steal without detection.
One victim met an online woman who convinced him to invest in cryptocurrency. She claimed she could make huge returns, persuading him to deposit funds onto an investment website, and even depositing $80,000 of her own cryptocurrency in his account as trust-building measures.
After investing several thousand dollars, he was suddenly denied access to withdraw funds due to taxes, fees, and commissions being due from them. Over time he lost all his money as well as suffering irreparable harm to both his reputation and trust with loved ones; this was a devastating loss; unfortunately there has yet to be compensation provided.