The Bank of Tanzania (BoT) has raised the alarm over a sharp increase in online investment scams, urging the public to exercise extreme caution when engaging with digital investment platforms.
Some of these fraudulent schemes are reportedly using artificial intelligence (AI) to create fake images or videos that falsely claim the endorsement or participation of government officials and prominent public figures.
BoT has warned that these scams are designed to mislead unsuspecting investors into sharing personal information or transferring funds to unverified platforms.
The Bank emphasized that all investment opportunities must be carefully verified through the relevant authorities, including BoT itself or the Capital Markets and Securities Authority (CMSA).
Members of the public are strongly advised to avoid clicking on unfamiliar links, disclosing confidential information, or sending money to online platforms that cannot be independently verified.
The Bank also called on citizens to report any suspicious advertisements or communications to the relevant authorities immediately.
This warning comes amid a growing trend of sophisticated online fraud targeting Tanzanians, leveraging social media and other digital platforms to appear credible.
Authorities have stressed that vigilance and due diligence are critical to protecting personal assets and maintaining trust in legitimate investment opportunities.