Considering making an investment can take time in finding the right opportunity to achieve the greatest return. This might be compounded with the concern around fraud and scams. Knowing what investment scams are and how to spot them will help you in feeling secure in your selection and decision making process.
What are investment scams?
An investment scam also known as investment fraud, is a deceptive practice where a criminal uses high pressured sales techniques to get you to invest in worthless, cloned or non-existence products.
There are three main types of investment scams:
How to spot investment scams?
We often think of cold callers being the main contact for scammers but the internet and particularly social media, has opened up more opportunities for scammers to strike.
There are ways to spot an investment scam and here are some to watch out for:
Protecting yourself from investment fraud
Knowing the signs of investment fraud will help you to ward off any unwanted scams. You can also use the FCA warning list where you can check an investment or pension opportunity > https://www.fca.org.uk/scamsmart/warning-list
Never share personal or bank details with anyone, if anyone asks for them after they have called you, put the phone down and call the number on the back of your card.
Being aware of what investment fraud is will put you in good stead to ward off potential scams. You should never feel pressured into making a decision and if you are not sure, take your time and do some further research first.
For more information regarding investment scams, please give the team a call on 0121 550 8509 or email firstname.lastname@example.org.