Everyday regular, trusting, hard-working people fall victim to scams involving investments. This happens all over the world, not just in our country. Many times, victims are associated by profession, friendship, religious affiliation, and other associations they belong to. Why does this happen in an ‘associated group’ way? Because scammers know that large scale success lies in getting an associated group to buy into their scam. It is easier to ‘sell’ their scam when they can use associations and ‘name dropping’ when invited you to participate or discuss their ‘investment’ with you.
When considering an investment, professionals working in a regulated industry never ‘name drop’ or discuss associations and individual members that they work with. It’s not ‘legal’ to name other individuals they do business with due to privacy and personal information federal laws.
If you hear about an investment that sounds ‘too good to be true’, it is up to you to question that investment. If you ask questions and don’t have them answered in an understandable way, the person telling you the information may be changing what they are telling you, or are trying to make you feel you are not capable of understanding it. They position it as a ‘complex’ investment that you’re lucky to be invited to participate in. Investments should not be too complicated to understand, or too simple that it seems like a ‘get rich quick’ exclusive opportunity! Investing and reaping the rewards of the investment takes time and is not something too good to be true.
Regulated investments are registered, sold, and serviced by licensed professionals who have no criminal history, no bankruptcy, have received training, and participate in continuing education. As you hear about investments that are ‘too good to be true’, examine who is selling them, if they’re regulated, and do your ‘on-line’ research on the investment and the person you’re doing business with.
This update has been provided by Fresh Finance.