Task-based scams are rapidly becoming one of the fastest-growing forms of online financial fraud in Nigeria, with thousands of people reportedly losing millions of naira through fake remote job and investment platforms.
The growing trend has raised fresh concerns about cyber-enabled financial crime, as fraudsters increasingly disguise scams as legitimate online earning opportunities.
How task-based scams work
Unlike conventional internet fraud, popularly known as “Yahoo Yahoo,” task-based scams lure participants with promises of earning money by completing simple online assignments.
Victims are typically asked to perform tasks such as:
- Rating hotels
- Reviewing products
- Liking social media posts
- Watching promotional videos
- Completing other simple online activities
Participants are initially paid small amounts to build confidence before being encouraged to make larger financial commitments.
Victims asked to pay before earning more
According to reports, operators often require participants to make deposits described as:
- Registration fees
- Job security payments
- Account verification charges
- VIP membership upgrades
- Account activation fees
Users are told these payments will unlock higher-paying tasks and larger daily commissions.
Many victims reportedly reinvest their earnings, borrow money or persuade family members and friends to join after receiving early withdrawals.
How the platforms collapse
As more users join, operators allegedly introduce additional payment requirements before allowing withdrawals.
Participants attempting to withdraw larger sums may be asked to pay:
- Verification fees
- Security deposits
- Tax charges
- Additional upgrade fees
Eventually, withdrawals stop, customer support becomes unreachable and the platforms disappear, leaving victims unable to recover their money.
Victims lose savings and business capital
Across Nigeria, victims have reported losing:
- Personal savings
- Business capital
- School fees
- Rent
- Medical funds
- Household income
Many also suffered damaged relationships after encouraging relatives, colleagues and friends to invest in the platforms.
One of the most widely reported incidents followed the collapse of the TAG investment platform in Calabar, Cross River State, where frustrated investors reportedly stormed the company’s office after losing access to their funds.
Why the scams are spreading
Experts say several factors continue to fuel the popularity of task-based scams, including:
- High unemployment
- Rising inflation
- Economic hardship
- Declining purchasing power
- Low financial literacy
Fraudsters also exploit social media by using WhatsApp groups, Telegram channels, Facebook pages and referral programmes to attract new participants.
Testimonials and screenshots of successful withdrawals often convince potential victims that the platforms are genuine.
Experts warn Nigerians to watch for red flags
Cybersecurity professionals advise members of the public to avoid online opportunities that require upfront payments before work begins.
Common warning signs include:
- Requests for registration or verification fees
- Guaranteed daily profits
- Unrealistically high returns
- Pressure to upgrade membership
- Incentives for recruiting new participants
- Promises that appear too good to be true
Experts also recommend verifying whether investment platforms are registered with the appropriate regulatory authorities before committing funds.
Public awareness remains key
While security agencies continue efforts to combat cybercrime, experts say public awareness remains one of the strongest tools for preventing financial losses.
They urge Nigerians seeking remote jobs or investment opportunities to conduct proper due diligence and avoid making financial decisions based solely on social media testimonials or recommendations from friends.
The growing popularity of task-based scams highlights how cybercriminals continue to adapt their methods, making vigilance increasingly important for internet users…..See More
Be the first to comment