From RCIPS

The RCIPS Cyber Crime Team is aware of a significant number of sponsored advertisements circulating on social media platforms. These ads falsely claim to be from the Cayman Compass and often feature well-known Caymanians, most recently Ms. Tara Rivers. The ads are both defamatory and fake, and include links to a cryptocurrency platform.

The RCIPS urges the public to remain vigilant online and remember the adage, “If it sounds too good to be true, it probably is.” This means that offers or opportunities that appear extremely attractive or advantageous often have hidden drawbacks, risks, or are outright deceptive.

The RCIPS Cyber Crime Team, in conjunction with the Cayman Islands Bureau of Financial Investigation, advises members of the public to exercise extreme caution when encountering online advertisements for investment products, trading software, cryptocurrency, and foreign exchange trading platforms. Fraudulent online investment schemes are prevalent and often designed to appear legitimate, using convincing technical language to deceive potential investors. Any investment product that has not been recommended or authenticated by a regulated financial advisor should be approached with a high degree of caution.