Sometimes the signs are easy to spot. You receive an email that starts “Dearest XYZ” and proceeds to ask you to transfer money to help a long lost great uncle’s ex girlfriend’s dog’s walker. You delete then and there… Unless you are Joe Lycett and you build a comedy career over replying and having ridiculous conversations with these fraudsters.
What about those people who speak to you about a great opportunity to get invested today to make great returns with no risk. They look professional. It sounds legitimate. Especially in the current low interest environment when everyone else is earning next to nothing on their savings accounts… Why not listen to what they have to say?
WELL! STOP RIGHT THERE!
If it sounds too good to be true, it definitely is!
Last week The Times reported a 49% increase in investment scams between June and July. People are looking to take advantage of concerns over low interest rates to encourage people to invest in dodgy private companies, cryptocurrency and other unregulated investments.
How do you know if it’s a scam?
Not your fault, you were scammed? The banks might not see it that way and you may not get reimbursed for the losses. So take care and know the facts! When in doubt, ask for a second opinion! Friends, family, financial advisors or the Best Intentions team are always here to help!