Financial Fraud
Investment Scams
These scams promise high returns with little to no risk, often involving cryptocurrencies, foreign exchange, or "secret" investment techniques.
How It Works
- You see an ad on social media or get an unsolicited message about a "can't-miss" investment opportunity.
- The scammer presents a professional-looking website or app that appears to show your investment growing rapidly.
- They pressure you to invest more money quickly to take advantage of the "limited-time" opportunity.
- When you try to withdraw your money, you are told you need to pay fees or taxes first, or they simply cut off all contact.
Red Flags
- Guarantees of high profits with little or no risk.
- High-pressure sales tactics urging you to "act now".
- Requests to invest using cryptocurrency, wire transfers, or gift cards.
- Unlicensed or unregistered sellers.
Prevention Tips
- If it sounds too good to be true, it almost certainly is.
- Be skeptical of unsolicited investment offers.
- Research any investment opportunity and the person/company offering it thoroughly.
- Never invest more than you can afford to lose.
Example Scenario
"A "financial advisor" on Instagram DMs you about a new crypto trading platform that guarantees 30% returns per month. They show you a slick website where you can see your initial $500 investment supposedly triple in a week."