The Ministry of Interior’s Department of Information Technology (IT) on August 27 warned the public of a surge in “money flipping” scams on social media, where increasingly tech-savvy scammers rope unwitting users into fake financial opportunities with the promise of quick and easy money.

It noted that technological progress provides humanity with great advantages, which criminals are all too eager to exploit.

It said scammers have been especially fond of using Telegram as of late, adding users into their groups, or reaching out to them directly with a text offering an attractive investment proposition that promises quick returns.

“To prevent from being victimised and wasting time and money, the IT department advises the public to take precautions, think twice, and thoroughly discuss the matter with someone more knowledgeable in the field before investing in any operation that they do not fully understand.

“[However,] this warning does not implicate companies or legitimate agencies that legally operate investment vehicles in Cambodia,” the department added.

Cambodia has 8.86 million internet users, or 52.6 per cent of the population, and around 12 million social media accounts, or 71.3 per cent of the population, it said citing data from social media management platform Hootsuite.

Before contacting any social media account promoting a suspected scam, search online for the associated username and phone number – fraud victims often share details of their experiences. An offer that seems too good to be true, probably is.