According to statistics from the Financial Monitoring Agency, in 2025–2026, the primary victims of fraudulent schemes and financial pyramids in Kazakhstan have been people of retirement and pre-retirement age. Many of them have lost savings accumulated over the years, taken out bank loans, and found themselves in an extremely difficult financial situation.

Upon retiring, many people strive to remain active, support their loved ones, and maintain financial independence. It is precisely these natural desires that fraudsters turn into instruments of deception. They offer elderly people "easy money," "passive income," "participation in a profitable business," or "investments of the future." However, behind the grand promises lie either financial pyramids or outright theft of funds.

Typically, the scheme works as follows: pensioners are offered a "job" – to purchase goods with their own money and then receive a reward. The first small orders are indeed paid for, in order to build trust. Once the victim gets a taste of it, they are asked to deposit a large sum or take out a loan. After the money is transferred, the organisers vanish without a trace.

Alternatively, there is another scenario: a pensioner receives a call from a "financial consultant" offering to invest in an "innovative project." After the money is transferred, the "profit" in their personal account starts to grow. But as soon as the person tries to withdraw the funds, new obstacles emerge: they must pay a "commission," a "tax," or an "insurance fee." In the end – neither money nor refund.

According to practicing lawyer Nagashybek Bekdair, who specialises in financial security, criminals know the psychology of the older generation all too well. They skilfully play on trust, the desire to improve one's financial situation, and the wish to be involved and useful.

"They often create the illusion of a 'family circle' or a 'community of like-minded people' – they invite people to meetings, congratulate them on holidays, and show them attention. All of this dulls vigilance and prevents a sober assessment of the situation.

The first red flags to watch out for are when:

• they guarantee income with absolutely no risk;
• the main earnings are built on bringing in new people;
• they ask you to deposit money or take out a loan to start 'working';
• they pressure you into a quick decision ('today only,' 'last few spots');
• they cannot explain how the profit is generated;
• they advise keeping the offer secret from relatives," says the lawyer.

SIMPLE RULES OF FINANCIAL SECURITY

• Do not invest your savings in projects with an unclear structure;
• Do not take out loans for dubious earnings;
• Verify information about companies on the AFM (Financial Monitoring Agency) website and in official registries;
• Always consult with loved ones before making any financial decisions;
• If you are being rushed and asked to keep quiet – there is a high probability it is a scam.

A legitimate business makes money from goods or services, not from endlessly recruiting newcomers. Your financial protection lies in your ability to analyse and verify information.

By Viktor PANAYEV