Protect yourself from Investment Scams
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Investment scams are the scams led by the scam broker or companies which lure victims to invest an attractive sum of money on questionable financial investment opportunities. As a result, the victim loses all money due to the scam broker not keeping up the promises.
Staying safe from such investment scams is necessary and here are some ways to protect yourself from such scams-
- Never respond to unsolicited emails or calls which offer high return investment opportunities with little or no risk which are too good to be true.
- Do not trust a financial advisor if he or she is not registered with ASIC website. Also, go through the website of ASIC and see the list of companies you should not deal with.
- Do not be pressurized by someone offering a great investment offer. The scammers always try to force you in accepting the investment offer.
- Do not buy shares of any company without going through its recent performance in the market. Also, check that the company is listed in on the stock exchange or not.
- If someone calls for an investment related to a pension or offers a big refund for your taxes, your alarm bells should start ringing. Many pension scammers ask you to invest your pension money by taking it out before the age of 55. If you withdraw your pension funds before the age of 55, you can do this only in special cases and that too costs high taxes, far more than 50%
Try all possible ways to avoid investment scams, otherwise, it may ruin your life savings.