What Is Investment Scam & How To Protect Yourself
“I invested on the recommendation of a friend. Thanks to the Forex expert (they will give a name here), I earned 50 thousand dollars for 1 thousand dollars in two hours! You can win too. Call this number for contact.” If you haven't come across a message, content, or dialogue like this yet, you're lucky. Because this is a method frequently used by investment scammers on social media lately and it is a very common investment scam: Trying to raise money by promising high returns in return for investment. Making you believe that they will guide you like an investment expert so that you can grow your money effortlessly.
Fraudsters who share posts, and stories over hacked social media accounts or send you private messages using these accounts convince you to send money to an unknown place. While you are waiting to make a profit, both your money and these people disappear.
Scammers often exploit common interests, such as the desire for profit, and people's inclination to trust and believe in people they know. So what signs should you suspect this might be a scam when you see it? When unreasonably high profits or gains are promised in the very short term.
When you are persistently asked to involve your close circle when told that if you do, your earnings will be doubled or you will receive a reward. No details/written information on the risks of the alleged investment or the withdrawal procedures are provided. Even if the person or organization promoting you has a website when you can't find enough information about management, location, communication, or investment.
