If you hear of an investment opportunity that you shouldn’t miss, your first instinct is to dive right into it. Don’t. But how can you tell what is a genuine investmentor a scam?
Investment scams give illusions that one could “make plenty of cash” with “little or zero risk.” They usually begin with social media sites, online dating sites, or an unexpected email, text or phone call. For Military Consumer Month we’re talking about ways to steer clear of fraudulent investment schemes and false schemes to make money.
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Here’s what you need to know:
Be wary of any offers that come from unknown sources. If you receive an unexpected text message, phone call or email promoting “an incredible investment opportunity” it’s probably a fraud. Stay clear of it.
Don’t trust any promises to earn money or receive certain returns. Nobody can assure you that you’ll make a fortune without risk. Anyone who promises this is a con artist.
Don’t take advantage of the high-pressure sales pitch. Scammers frequently make you feel pressured to take action fast and claim that you’ll miss the chance if you fail to take action. They will try to create the image in your mind of what your life will look when you’re rich. Don’t believe them. Investments that are legitimate allow you to have the time to do your research prior to investing any cash.
Conduct your own research. Do not invest before you’ve done your research and are fully aware of the investment you’re making and the conditions of the deal. Examine the investment as well as the person who is offering it. Look up”the name” of the business as well as “review,” “complaint,” or “scam.”
You might be able to recognize a scam but the likelihood is that you know someone else who isn’t. The information you share could aid a friend or colleague, military member, or veteran in your life stay clear of frauds in the investment industry. Have you spotted fraud? Contact us at ReportFraud.ftc.gov.
Scams and Money-Making Opportunity Scams
