Everyone wants to have a secure future and so some people explore investing. The logic is pretty simple – the money will grow faster if invested in a worthwhile opportunity instead of simply putting it in the bank.
Still, it is extremely important to be cautious before entrusting your money to any organization, or company. With the numerous horror stories about different scams, you surely don’t want to be a victim of one. It would be a great tragedy to lose your hard-earned money if you make the mistake of trusting unscrupulous individuals.
Read: 10 Money Habits Every Filipino Should Stop Immediately
Here are 5 surefire ways to avoid fraud:
1. Ask a lot of questions
Scammers will do everything to win your confidence and thus, your money. They will pose as professionals and they will lure you into get-rich-quick schemes.
Do your homework and ask many questions during your conversations. A fraudster may be ready with typical questions so try to come from different angles. Ask the same questions after a while and you might just catch them lying.
2. Do your own research
Do not stop right away in case the person gives you persuasive answers. Many scammers are experts at what they do and so you have to do additional research.
Do some background check for the person or the company by searching for information online. Visit the official website. Go check out blogs and forums. Of course, social media can be a useful tool as well. You will immediately see positive or negative comments on the internet so make sure you do not skip this process.
If you personally know people who are involved in the company, then get in touch with them and try to learn as much as you can. Study materials that they provide.
3. Protect your personal information
Think twice (or even thrice!) about giving your personal details to another person. Do not disclose important information such as your date of birth, bank account number, and other confidential matters. Protect your privacy and you will be safe from fraudsters.
4. Watch out for potential pitfalls
Again, most con artists will offer attractive opportunities that are usually “little or no risk.” On top of that, they’ll guarantee you that you will “gain your investments in a short period of time.”
The key to preventing deception, of course, is to use common sense. If it sounds too good to be true, then it probably is.
5. Consult with a lawyer
If possible, you might want to consider seeking professional legal help. A lawyer can provide valuable insight whether certain terms and conditions of the investment are reasonable or not. They’d help you scrutinize opportunities and see if they are really legit or possibly just a hoax.
As you take the time to evaluate investment options, you will be able to avoid losing your money to fraudulent people. So the next time you are invited to attend investment seminars and similar gatherings, do your best to stay vigilant and you just might save yourself from the heartache of being scammed.
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