Photo Credits: Jorge Franganillo, Creative Commons&nbsp;Attribution 2.0 Generic&nbsp;license.
Amid widespread speculation, Egypt&rsquo;s Interior Ministry has confirmed that the total amount defrauded by the alleged FBC scam is EGP 2.5 million, dismissing exaggerated claims of billions in losses.
According to media reports, the fraudulent network began operations on December 30, 2024, with 140 victims filing official complaints as of the latest update&mdash;up from 101 initially reported. Authorities believe the actual number of victims may be higher, as many have yet to come forward.
Investigations continue, and officials urge the public to exercise caution when engaging with online investment platforms.
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