Can you recognize a financial scam?

On Behalf of | Jan 16, 2020 | Financial Fraud

You take a risk every time you make a financial investment. The possibility for profitable gains comes with the possibility for financial losses. That’s the nature of financial markets.

Other times, however, people try to take advantage of unsuspecting victims. While nobody wants to be taken advantage of, few know what signs to look for.

Thankfully, there are ways you can educate yourself on the signs of a potential scam. A few ways to decrease your chances of becoming a fraud victim include:

  • Be skeptical. If someone makes grand promise of lucrative returns with little investment, it could be a scam. A slick website is also no guarantee of a legitimate investment opportunity since many people can quickly create a good-looking site these days.
  • Check for reviews. A great way to identify a scam is to see if there are online reviews for this person or company. Asking trusted friends and family members for recommendations can help you avoid becoming a fraud victim.
  • Ask questions. Part of keeping a watchful eye is knowing to ask questions regarding things like terms and conditions of an investment offer. Someone who can’t answer a question or lies should raise red flags for you.

Investing is a great way to bolster one’s income and help make your financial future more secure. Unfortunately, criminals looking to take advantage of this desire, will attempt to defraud you out of your hard-earned money. Asking questions and cross-checking with secondary sources are great ways to spot foul play in time.

If you believe that you’re the victim of financial fraud, contact the attorneys of Kaufmann Gildin & Robbins LLP for a consultation.