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If you have received a sudden and unexpected call from an investment opportunity that will provide huge returns, the best thing to do is to avoid it. Called investment scams, these are fraudulent schemes by scammers or hackers that lure people into investing their money in fake or unprofitable ventures.
What is an investment scam
Scammers call people representing a company and tell them about an opportunity for investment convincingly promising high returns with little or no risk.But in reality, those who invest are likely to lose their hard earned money.
Investment scams can be very convincing, and even sophisticated investors can fall victim to them. The schemes and planning are so detailed that one forgets that there is nothing, especially money, which comes easily.
On the contrary, an offer that is too good to be true, is a red flag that should warn you of a potential scam.
How to spot an invest scam
There are some points one should keep in mind before taking a decision to invest.
What is an investment scam
Scammers call people representing a company and tell them about an opportunity for investment convincingly promising high returns with little or no risk.But in reality, those who invest are likely to lose their hard earned money.
Investment scams can be very convincing, and even sophisticated investors can fall victim to them. The schemes and planning are so detailed that one forgets that there is nothing, especially money, which comes easily.
On the contrary, an offer that is too good to be true, is a red flag that should warn you of a potential scam.
How to spot an invest scam
There are some points one should keep in mind before taking a decision to invest.
- If an investment guarantees high returns, it is probably a scam.
- Scammers often try to pressure their victims into investing before they have time to think carefully about the decision.
- Be wary of anyone who offers
investment advice without being properly licensed or registered. - If you don’t understand how an investment works, it’s best to stay away from it.
How to safeguard
In order to keep your money safe, users can follow these steps:
- Research and verify investment opportunities and individuals or companies behind them
- Check if the investment is properly registered with relevant regulatory authorities
- Seek advice from a trusted financial advisor before making any investment decisions.
- Don’t give out any personal information. Scammers often try to get your personal information, such as your bank account number.
- Report the scam. If you think you have been the victim of an investment scam, report it to the authorities.
- Report Cyber Frauds immediately to National Cyber Crime at cybercrime.gov.in or call their helpline on 1930.
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