Investment scams promise big, safe returns. Many now involve cryptocurrency and slick trading websites that show fake gains to keep you depositing. Often they start as a friendly message or a new online friend.
Red flags
- Guaranteed returns or "no risk"
- Pressure to invest quickly
- A website or app that shows big gains but makes withdrawals difficult
- Fees or "taxes" you must pay before you can withdraw
- Celebrity endorsements in ads
Check before you invest
- Look up the person on FINRA BrokerCheck and the SEC's adviser search
- Search the company name with "scam" or "complaint"
- Talk to someone you trust who has nothing to gain
General education, not investment advice. Dime Wisdom isn't paid by any bank, security company or government agency.