Fraudsters are clever and constantly scheming. But that doesn’t mean that you need to sit idly by as they try to trick you out of your hard-earned capital.
Here are a few red flags to watch out for when making (or considering making) an investment decision.
The person promoting the investment:
- is unlicensed
- aggressively tries to convince you to invest now
- exaggerates or falsifies his/her professional credentials
- describes it as “risk free”
- promises capital appreciation and/or a guaranteed return
- makes it sounds too good to be true
- asks for payment by credit card, gift card, or a money wire abroad or to a personal account
- seeks your personal information
- reaches out to you unsolicited (i.e., on a cold call)
Here’s a bit more on investing:
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How to spot an investment fraud?