Following the time that Bernie Madoff was caught stealing billions of dollars from investors he had been enticed by his Ponzi scheme, people realized that not all that glitters is gold. There's a chance that you won't meet a white-collar criminal like Madoff However, when you've conducted studies online about investments throughout the years, you'll end up running across scams sooner or later. There are a few indicators to look out for: Beware of high-return promises. These private placement program scam usually promise big yields on investments when you invest in a stock or open an IRA. According to this site, "Fraudsters can entice others to purchase products that never be delivered, or invest in easy and "profitable" opportunities that never be realized. They can be difficult to discern from real opportunities and purchases because the cyber criminal may use templates and contact details that appear genuine, and sometimes they've even obtained your personal information in order to show you that they're legitimate." However, that doesn't mean there aren't investments available that can make profits quickly however, the greater the return promised, the higher the chance that you'll lose all your money in it. Register with Government AuthoritiesAgencies such as the SEC and the Federal Trade Commission work to make sure investors don't fall investment frauds. They have a procedure that allows companies to sign up with them, and they provide financial statements that are able to be viewed by the public. Don't invest in investments that aren't registered. Be on the lookout for emails and social media announcements This site claims that we are social creatures, and sites such as Facebook and Twitter demonstrate this. But, "with this tremendous popularity is also a dark side. Cyber criminals and virus writers are wherever the numbers are, which includes social media websites. If you receive email messages soliciting you to invest in something that you've never heard of or you come across Facebook banners about big earning opportunities It is best to avoid them. Do not believe the headlines that claim that some famous person is involved in. Scammers often attempt to make their pitches appear real news. Always ask questions and receive Straight Answers If you're interested in learning more about a financial investment opportunity or any other product, don't hesitate to look up details about it. Ask the sales representative or company directly questions to get clear information. If you're having trouble finding the information you're looking for Ask financial experts who are verified if they know the company or agent. Be on the lookout for free, small gifts Scammers may attempt to entice victims with offers of clients a free item or something special in exchange for the product. Investors will feel they're being cared for and they will be more eager to trust the company that's offering the offer. There are times when legitimate companies offer perks too however, regardless of the reason, you need to make sure you do adequate research on the products they offer. Advertising for investment is a typical source of fraud. Do not just ignore every investment opportunity that comes up as private placement program scam since there are genuine, extremely high-return investment opportunities, such as penny stocks that can, in fact, help you. However, you must remember to follow the guidelines such as those pointed out by the SEC to stay clear of investment fraud.
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May 2022
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