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A number of Moroccans say they were defrauded after investing money in an online platform called “SMG” that promoted “financial freedom” and promised large profits for completing simple tasks, before accounts were shut down and withdrawals were blocked.
The platform, known as SMG, promoted the idea of “financial freedom” and sought to convince citizens they could earn daily profits in exchange for completing simple tasks.
The platform claimed it worked with major advertising firms and global brands, saying participants only needed to complete tasks such as watching ads, clicking links and rating products on e-commerce sites.
The platform expanded its reach through what is known as a pyramid-style marketing system, prompting users to recruit others in exchange for a percentage of the returns those new clients generated.
It also encouraged citizens to invest their savings in the company and sought to project a veneer of legality by opening offices in several cities and staging conferences and celebrations featuring fabricated success stories.
Unlike typical online scams, the operators of SMG went further in deceiving victims: Information indicates the platform’s promoters opened on-the-ground offices in several Moroccan cities and staged flashy celebrations to market fictitious successes.
Victims said they were shocked to find their accounts shut down and were unable to withdraw their money, without any explanation from the platform, which also took down its social media pages and closed chat groups on messaging apps.
Those affected filed complaints with the authorities, who arrested several suspects, including an employee at the prison administration suspected of being the platform’s mastermind, according to local media.
The case sparked widespread reaction on social media, with awareness posts circulating warning against trusting any entity that promises quick profits.
Photos of chat-group administrators and the names of bank account holders from whom victims said they received profit payouts were also circulated, with calls for authorities to swiftly apprehend them before they could flee.
Digital fraud has been on the rise in many countries through financial platforms set up in a near-professional manner to exploit many people’s desire for quick gains.
Those behind these platforms also take advantage of many people’s lack of awareness of the risks of fraud and deception that can occur in the digital sphere.
Legally, those implicated in the case face custodial sentences ranging from one to five years in prison under Article 540 of Morocco’s Penal Code, which covers the crime of fraud.
However, penalties may be increased if “organized group” involvement is proven and if “misleading advertising” was used to target the public.
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