You work hard for your money – make sure that you invest it wisely! There are many people who claim that they can help make you lots of money in a very short time, but not everyone can be trusted.
Here are five warning signs of an investment scam:
- Promises of quick profits.
- Offers to share “inside” information.
- Salesmen who pressure you to invest before you’ve had the chance to investigate their claims.
- A salesman who discusses a company you’ve never heard of before. Before you invest, check whether or not the company in question is on the Financial Services Board’s fraudulent company alert list by visiting www.fsb.co.za
- The use of an alias. If someone wants to hide their true identity you need to question the legitimacy of their claims.