The RCIPS is advising the public to be vigilant on social media as a number of scams imitating the Cayman Compass and featuring well known political figures are being circulated on Facebook.
The RCIPS Cyber Crime Team, in an advisory Friday night, said they are aware of a “significant number” of sponsored advertisements being circulating on social media platforms.
These ads, it said, falsely claim to be from the Cayman Compass and often feature well-known Caymanians, including former Minister Tara Rivers.
“The ads are both defamatory and fake, and include links to a cryptocurrency platform,” the police said.
This is the latest in a string of fake stories mimicking the Compass.
Last month there were also similar fake articles featuring Premier Juliana O’Connor-Connolly. At the time, the Compass advised the public that the articles do not originate with the organisation.
The RCIPS is urging the public to remain vigilant while online.
“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 cops warned.
The RCIPS Cyber Crime Team, together with the Cayman Islands Bureau of Financial Investigation, has advised 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,” it said.
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