The UK reporting centre for scams Action Fraud has warned Instagram users of fraudulent ‘get rich quick’ investment schemes being advertised on app. Over the past 5 months Instagram victims have reportedly lost around £9,000 each, or £3 million in total. The fraudsters are targeting mainly young people - those in their early 30s, 20s and even teenagers. The users of the photo-sharing app are promised skyrocketing profits within 24 hours if they invest £600 or more. After depositing, the victims receive some screenshots supposedly evidencing the spectacular returns. Once those Instagram users request to withdraw, however, the scammers shut down the accounts and disappear with the money.