When times are tougher, dreams of quick riches seem all the more appealing. These could be boom times for con artists looking to swap false dreams in exchange for your large hunk of cash, making it all the more important to be on the lookout for these pitfalls.
Financial Highway suggests looking out for warning signs that an “investment” is a swindle. A demand for quick, large upfront payments is a major giveaway, especially if you’re asked to wire money.
Never invest money until you’ve vetted the company in question. If you can’t find any information about the entity, it’s probably not worth trusting. Also, beware of investment opportunities that are located in other countries and claim to offer tax-free profits.
Watch Out for Investment Fraud [Financial Highway]
Previously: 10 Warning Signs Of An Investment Scam