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Learn why new entrepreneurs get scammed by investing money on the wrong track

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Learn why new entrepreneurs get scammed by investing money on the wrong track

When it comes to personal investing, business owners should resist conventional wisdom, not to mention certain temptations. Fraudsters are counting on you not to investigate before you invest. They have no incentive to set you straight. Fend them off by doing your digging.โฃ

๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐›๐ž๐Ÿ๐จ๐ซ๐ž ๐ฒ๐จ๐ฎ ๐ข๐ง๐ฏ๐ž๐ฌ๐ญ: Voluntary emails, message board postings, and company news releases should never be used as the sole basis for your investment decisions.โฃ

๐๐ž ๐ฐ๐š๐ซ๐ฒ ๐จ๐Ÿ ๐ฎ๐ง๐ฌ๐จ๐ฅ๐ข๐œ๐ข๐ญ๐ž๐ ๐จ๐Ÿ๐Ÿ๐ž๐ซ๐ฌ: Be wary if you receive an uninvited pitch to invest in a company or โ€œoffshoreโ€ investments, or see it praised online, but canโ€™t find current financial information about it from independent sources.

๐๐ซ๐ž๐ฌ๐ฌ๐ฎ๐ซ๐ž ๐ญ๐จ ๐ฌ๐ž๐ง๐ ๐ฆ๐จ๐ง๐ž๐ฒ ๐‘๐ˆ๐†๐‡๐“ ๐๐Ž๐—ช: Scam artists often tell their victims that this is a once-in-a-lifetime offer and it will be gone tomorrow. But resist the pressure to invest quickly.โฃ

๐๐ž๐ฐ๐š๐ซ๐ž ๐ญ๐ก๐ž ‘๐ก๐š๐ฅ๐จ’ ๐ž๐Ÿ๐Ÿ๐ž๐œ๐ญ: Investors can be blinded by a ‘halo’ effect when a con artist comes across as likable or trustworthy. Credibility can be faked. Check out actual qualifications.โฃ

๐‘๐ž๐œ๐ข๐ฉ๐ซ๐จ๐œ๐ข๐ญ๐ฒ: Fraudsters often try to lure investors through free investment seminars, figuring if they do a small favor for you, such as supplying a free lunch, you will do a big favor for them and invest in their product.โฃ

๐Š๐ง๐จ๐ฐ ๐ฐ๐ก๐š๐ญ ๐ญ๐จ ๐ฅ๐จ๐จ๐ค ๐Ÿ๐จ๐ซ: Make yourself knowledgeable about the different types of fraud and red flags that may signal investment fraud.โฃโฃ

If you have any questions or concerns about investment, ๐ฉ๐ฅ๐ž๐š๐ฌ๐ž ๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐ฎ๐ฌ ๐Ÿ๐จ๐ซ ๐ฆ๐จ๐ซ๐ž ๐ข๐ง๐Ÿ๐จ๐ซ๐ฆ๐š๐ญ๐ข๐จ๐ง.

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