Don’t be seduced by lavish claims

The old adage ‘if it looks too good to be true it probably is’ is a sound maxim to adhere to. Fraudsters will present their ‘financial investment opportunities’ in hyperbolic language created to lure you with guarantees of quick profits, huge bucks or, typically, both.

Whether you’re collared on the telephone (see listed below) or they write to you with a professional looking shiny pamphlet or email you, don’t act impulsively; check any financial investment proposals very thoroughly.

Identify the fraudster’s tactics

Beware of the following:

Out of the blue contact by means of cold calling, email or perhaps through the post and frequent subsequent contact
Applying pressure for you to commit by giving a brief deadline for using up their offer
Stating you’ve been ‘specifically selected’ for the deal
Lavish claims to hook your interest
Any recommendation that your risk is limited or perhaps non-existent; for example, assuring you’ll ‘own the asset anyhow’ or pricing estimate impenetrable legalese or marketing hype

A common investment offer is ‘share pointers’ or similar– you may be asked to pay a fee each month for a ‘tipster’ service. It’s a good idea to stick to known professionals preferably with a lengthy performance history to point to and a transparent online presence such as monetary markets specialists IG and prevent anyone who doesn’t boast such qualifications.

If you have been contacted in this way– or wish to set yourself up to prevent fraudsters in the first place– adopt the following techniques:

Prevent or control sales calls

You can sign up with the TPS (Telephone Choice Service) to prevent sales calls. Regrettably, this might not stop all of them. Other call obstructing approaches are readily available; and remember your cellphone either as numerous fraudsters will choose to target this device to capture you on the go.

If you do get ‘captured’ on the phone and find yourself being pitched to the simplest thing is to hang up.
Check with the FCA (Monetary Conduct Authority).

Companies and organisations providing financial investment opportunities ought to be controlled by the FCA, so if you’re suspicious consult their site. They can tell you if that company is on their ‘warning list’.

Look for independent advice.

Your financial consultant needs to be independent to the company proposing the investment, and preferably, ought to be an IFA (Independent Financial Consultant) who themselves are managed by the FCA.
Be on guard.

Make it a guideline to examine and check any investment chance provided to you. The fundamental ‘2 step’ check of using the FCA site and checking with a financial consultant must be the two fundamental actions to take. Chasing a quick dollar won’t be worthwhile if you’re caught out.

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