A famous investment expert is recommending overseas stocks in an open chat room. Can I trust it?

The Financial Supervisory Service has warned of illegal 'leading' schemes in which fraudsters impersonating famous investment experts recommend little-known small-cap overseas stocks in open chat rooms, then sell and disappear once the buying pushes the price up.

The pattern was to let victims make small profits the first few times to build trust, then have them buy with all their funds at the end, after which the share price plunged by 80% or more. Fraud carried out overseas is hard to obtain redress for, so be especially careful with investment pitches on social media.