The covid-19 pandemic has put a dent in nearly everyone’s pocket, and so people are on the look out to use their cash flow resources wisely. This had led to opportunist fraudsters posting as investment companies to seemingly prey on people vulnerability and taking their money with shallow promises of a handsome return.
If an investment company approaches you via social media or on the phone, do not get swayed by the return on investment promised. Of course, not all investment are scams, but you need to qualify them.
Here are 4 things to do to avoid getting trapped in an investment scam.
Do not rush or give into pressure
If a fraudulent ‘investment’ firm pressures you into buying a premium from them, there is a good chance it is a scam. Tactics such as ‘limited time’ ‘unbelievable’ offers and the “promises of returns” unheard of before are sure signs that something fishy is going on. A reputable company of any kind will never rush you into any purchase.
Be inquisitive
Not everyone is who they say they are. Someone may sound very professional and knowledgeable over the phone or in an email, but that doesn’t mean they’re genuine. Do not hesitate to ask them more about the firm such as how long they have been running, a website address, references or evidence of relevant accreditation. If you don’t get straight answers, end the conversation.
Knowledge is power
Do you know how investments work? Take some time out to learn about them, including how they work, the different types of investments, which ones are right for you and the different bodies that regulate investment firms. So if you’ve ever approached, you can hold your own.
Speak to an expert
Before committing to any investment plan, always get an opinion from an expert. Most of us will have family, friends or someone we know that we can trust.
Next steps
If you are considering a personal or business investment and are not sure of your options please call me on 0330 236 9930, 0330 236 9938 or 07961 116321. All conversations will be in strict confidence. You can also email me vee@navigatebr.com. Our first conversation is complimentary.
This article is for information and interest only. It is not a substitute for full professional advice, which will take in to account the specific and individual circumstances. Navigate Business Recovery Limited cannot accept any responsibility for any loss arising as a result of any person or organisation acting or refraining from acting on any information.
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