FIU target EbayShop agents; unearths massive profits

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Financial Intelligence Unit director Razim Buksh. Picture: FT FILE

The Fiji Intelligence Unit has tracked one agent of the EbayShop Online Recruiting scam who used $52,260 to build a house while another agent received $300,000 from January to August 2023.

FIU director Razim Buksh said despite repeated warnings, Fijians fall victims to online scams primarily due to a get-rich-quick mentality.

“This scam involved an illegal pyramid selling scheme that promised locals to invest money and get their money back within a short time, and thereafter receive large returns and profits,” Mr Buksh said.

“People were fooled to give their money to the so-called agents of EbayShop who were operating an unlicensed and unregistered financial investment business in Fiji.”

Mr Buksh said anyone promoting or operating a pyramid selling scheme, such as the EbayShop Online Recruiting, would commit an offence under Section 87A of the Fijian Competition and Consumer Commission Act 2010.

“Members of the public are advised to be vigilant when receiving offers for investments, loans and employment on any online or social media platform.

“The main focus of any pyramid selling scheme is to recruit or increase the number of subscribed users, members or customers rather than the quality and usefulness of products, activities, tasks, action and services offered.

“Funds that are collected from the large number of new members and recruits at the bottom of the pyramid are circulated within the organisation until it fails and the agents and founders flee with a large amount of funds.”

Mr Buksh said FIU has commenced investigation and profiling of seven known agents of EbayShop Online Recruiting and FIU’s intelligence case reports would be disseminated to the police for further action, including possible restraining and forfeiture of any tainted funds.

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