NSE warns Kenyans of copycat scam website

The Nairobi Securities Exchange (NSE) has warned Kenyans of falling prey to a scam website that has been defrauding unsuspecting members of public.

The site named the Nairobi Exchange which mimics the NSE bourse by bearing its trademark logos has been collecting public funds with an outrageous promise of miraculous returns from investments in crypto-related assets.

“If you are tired of losing money in financial pyramids, Forex, cryptocurrency or other questionable areas for investment and want (to) find a company with which month after month, year after year, you can consistently make a profit, then all you have to do is register, make a deposit and in an hour get the first profit,” the website which is still up and running states.

The daring site says it offers differentiated invested options including a premium offer of a 200 per cent profit margin after five days for a minimum investment of Ksh.445,911 ($4,001).

In contrast, the NSE does not at any point source funds from the public as it is a mere enabler/ market intermediary supporting securities trading.

Additionally, the exchange does not offer crypto-based investment products.

The NSE says it has reported the scam website to relevant government authorities for action.