Question 1

What is the "Luxury Watch Investment Fraud" scam in Zurich?

Accepted Answer

Sophisticated scammers in Zurich's financial district and along Bahnhofstrasse pose as watch dealers or brokers offering "investment-grade" Rolex, Patek Philippe, and Audemars Piguet watches at prices claimed to be significantly below retail. The watches are counterfeit or stolen, and in some schemes buyers are convinced to wire money before receiving any goods at all. Purchase luxury watches only from authorised dealers with verifiable storefronts and manufacturer authorisation certificates. Any offer significantly below retail market price for a sought-after reference is a red flag. Never wire money to a private individual for a luxury goods purchase.

Question 2

What is the "Dynamic Currency Conversion at Hotels" scam in Zurich?

Accepted Answer

Hotels and upscale shops in Zurich offer to charge cards in a traveler's home currency instead of CHF. The conversion rate used is typically 3–8% worse than the card's own rate, costing significant amounts on large bills. Always choose to pay in CHF when given the option on a card terminal. Your bank's exchange rate will nearly always be better.

Money & ATM Scams in Zurich

Luxury Watch Investment Fraud

Dynamic Currency Conversion at Hotels

Experienced a scam here?