The business you invested in sounded very tempting. Almost unrealistically good. You forgot the sacred rule that anything that sounds too good to be true – usually isn’t true. You have become a victim of investment fraud! What do you do now? We will try to help you at least to some extent – but you must know that this will not be an easy challenge.
Financial Frauds Are More Common In Times Of Crisis
At the time of the pandemic, there was a steep decline in the economy – and an equally sudden rise in various types of financial frauds. Financial manipulators will say that desperate times call for desperate measures. However, experts who are versed in the work of exposing this type of crime will tell you that this is nothing new to them
. Various types of financial speculations have been known for a long time – and in situations when there are strong turbulences in the economic market, such embezzlement is usually multiplied. Since today it’s not easy to get money out of people’s pockets in a simple way, fraudsters have had to become more creative, and today we are lured by offers to invest our money in various and “very lucrative” businesses. What is a real and what is a fake investment offer and how to distinguish them?
How To Recognize And Avoid Investment Fraud?
Everyone can be a victim of fraud, so everyone needs information on how to recognize and avoid one. Some people think that only naive and greedy people are victims of fraud. However, fraudsters are indeed becoming more and more cunning today, and if you don’t know what to look out for – you too can become a victim of fraud.
We live in a time when everything is digitally available – so everyone can get and accept an offer that “should not be rejected”. The cost of living is rising, the fear of losing stability has never been so big – and yet, opportunities for quick earnings are never higher. Fraudsters want to emphasize to you that you must take your chance now or never, or you might forever regret it.
You Happened To Be Tricked – So What To Do Now?
Frauds do happen, and even those who consider themselves educated in this area are not immune to them. We must keep in mind that fraudsters are great professionals in what they do – and that they will entice you in a very intelligent way to invest in something that you initially thought was a lucrative business. Despite what is being written and said about this – many people are still being dragged into a web, from which they later fail to get out. What to do if you have become a victim of investment fraud?
Follow your intuition
If you have entered the business of investing money but you have a feeling that something is wrong during the process – listen to your inner voice. Intuition often knows how to warn us, but we consciously ignore the signs we may see. On the contrary, we seek justification for them. For example, if the person in whose business you invested money doesn’t call you back, or gives you short, incoherent explanations – then this is a good reason for you to start being suspicious.
Keep notes and collect proofs
Keeping notes is a very good thing even in cases where it is not a scam. Namely, by recording everything, you will have listed everything that may be important to you later – as well as the chronological order of events from which you can get specific conclusions. You never know, but if you have been tricked, notes like this can help you in the investigation. Of course, you need to keep all bank statements, printed or canceled checks – or anything that can help you later in proving that you were a victim of fraud.
Report the case to the authorities and find a good lawyer
Of course, when you realize that you have been a victim of a fraud – the first thing you will do is report it to the authorities. However, this is not the only instance you can turn to. Experts advise that you send the proofs and an information letter to other financial institutions – as well as organizations dealing with the protection of property rights, associations, and commissions for the protection of securities, trade commissions, etc.
In addition, make an effort to find good legal representatives for this type of lawsuit. According to Mdf-law, your representatives must be well acquainted with the laws in this area – and be able to provide you with legal protection at several levels. Also, you have to choose experienced representatives, because such legal processes are often difficult to prove. After all, fraud is also done digitally, and victims of fraud due to being naive often don’t keep the evidence.
Don’t blame yourself
Fighting your conscience and facing our naivety can sometimes be bitter – but don’t do it to yourself. What has been done, has been done. We need to do something to reduce the damage and bring the fraudsters to justice. Therefore, do not waste time blaming yourself – but help yourself and other potential victims of fraud in the fight against such criminals.
Don’t expect too much when starting a battle against fraudsters
As we have already mentioned, victims of fraud are sometimes very gullible and do not collect documentation, correspondence, or other possible evidence. All this, along with the innovative nature of professional fraudsters – makes such cases very difficult to prove. Therefore, enter this battle without any great expectations. Be persistent, but don’t allow yourself to be disappointed if you fail to prove yourself cheated.
The Most Common Types Of Investment Frauds
Investment fraud comes in a variety of forms, including cryptocurrency buying, binary options trading, and other exotic types of financial assets. However, it is also present in traditional forms of investment. Fraudsters disguise their fake business opportunities with professional brochures and websites. Such scams often start with a sudden phone call or email from a scammer who offers a high return on investment or offers a guaranteed opportunity to increase earnings. Fraudsters usually operate from abroad, using offshore accounts – and generally do not have an adequate license to provide any of the listed financial services they offer you.
Online Investment Scams
The scams used by computer prediction software are based on promises to accurately predict stock or cryptocurrency market movements – and in fact, it is usually just one form of gambling disguised as an investment. Most schemes or programs do not work and customers cannot get their money back. In many cases, the fraudster simply disappears after receiving money from you.
For many years, with the growth of investment fraud, many associations regularly educate people on how to save their money from fraudsters. Therefore, a thorough education is advised before starting your ‘business of a lifetime’. Experts warn that we must be aware that fast and 100% secure earnings do not even exist in the real world – and therefore not in the financial world. They believe that the main reason for the growing number of such scams is the fast and high level of digitalization.
The Bottom Line
In the end, keep in mind that prevention is always better than cure. Although not all investments are scams, you should always be careful enough. Therefore, before you embark on any financial investment – make sure to protect yourself from possible fraud.
