It’s common knowledge that one of the best ways to grow your wealth is to invest wisely and let your money work for you in the market. Of course, the key word there is “wisely.” Many people aren’t sure what the best choice is for investing their money, and that makes them ripe targets for a scam. Funds Back reviews numerous investment scam claims, and they have shared with us some common red flags.
Use of High-Pressure Tactics
While it’s common for sales people of all sorts to use a certain amount of high-pressure tactics, investment scammers take this to the next level. The scammers don’t want you to have time to think it over, research what they’re offering, or ask a more experienced person for their opinion.
When Funds Back reviews chat logs and emails sent to them by the victims of investment scams, they often see the scammers leaning heavily on FOMO: the fear of missing out. They pressure their victims to invest now, before the asset in question increases in value.
Never trust anyone who promises you guaranteed returns. There are no guarantees in investing. Even the smartest, most experienced investors suffer losses. No one has a crystal ball that tells them exactly how the market moves. If someone is promising you that an asset will increase in value they are either lying, making illicit use of privileged information, or you are being recruited into a “pump and dump” scheme where the value of an asset is driven up artificially before the instigators of the scam sell and disappear with the profits.
Another theme that comes up regularly when Funds Back reviews what has happened to their clients is that the investment scheme is very confusing. Oftentimes, scammers try to dazzle victims with their brilliance by creating a complicated diagram of how the investment works. People usually respond to this in one of two ways: either they think “Wow, this person is clearly smart and knows what they’re talking about” or “If I admit that I don’t understand this, I’ll look stupid.” One way or another, they allow themselves to be tricked into handing over their money.
It’s Not Actually an Investment
Many of the exciting investment opportunities advertised online aren’t actually an investment opportunity, but an opportunity to learn how to invest or trade. These offers can be very appealing, as people like to feel like they are playing an active role in building their own wealth. However, while there are legitimate resources out there to help you learn how to invest or trade, many of the products offered on social media (especially via high-pressure tactics) are not worth the price tag.
These training products may either simply be a collection of advice you could have found for free across the internet, or they may be a lengthy sales pitch designed to get you to sign up for a specific investing platform or to purchase an algorithmic trading program.
Funds Back Reviews and Fights Scams
Funds Back reviews the details of scam cases every day to determine if they can help their clients get their money back. They hope that by sharing these red flags, they’ll prevent more people from falling victim to the scams that run rampant online.
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