Not only millions of pesos lost, but lives are destroyed because of investment scams.
Children have to stop school, retirement put on hold, peace of mind lost, and some commit suicide. These are the consequences that victims of investment scams have to face. Filipinos seem to forget the mistakes of the past and fall for the same trap of a “high return in a short span of time” investment. It may be too good to be true, but a promise of a brighter future is an offer they cannot refuse.
We cannot undo what has happened. The only thing we can do is to learn from our mistakes and the mistakes of others. We always remind everyone to never invest in something that you do not understand. Discover the questions you need to ASK to know if an investment being offered to you is legitimate or not.
4 Questions You Need to Ask
1. What is the background of the company?
Do your research. Know who runs the company and how they operate. Utilize the internet to check if someone has already been fooled by the company or its operators. If the scheme seems similar to a previous scam, do not second guess. STAY AWAY.
2. How much do I invest and how much will I get?
If it promises a huge return over a short period of time, THINK TWICE. It’s either a scam or something illegal. If it is too good to be true – you are probably right.
3. When will I get it?
If an investment promises to make you rich in days or a few months, be DOUBTFUL.Unless you win the lottery, there is no investment that can guarantee to make you rich instantly. Beware of the word GUARANTEE.
4. How will I earn?
Lastly, you should know how they will use your hard earned money. If you do not understand the business and they cannot explain it clearly, AVOID them completely.
Always use good judgement when deciding about the things that will affect your future. Do not let testimonials from your family, friends or any influential person convince you to invest.
YOU make the decision!
QUESTION: Can you share other ways to avoid investment scams?
Do you want to know if an investment being offered to you is legitimate or not?
Don’t be fooled by scammers. You are welcome to join our “Basic Investing Seminar”.
“YOU make the decision!”, I agree on this. At the end of the day, never expect anyone to care for your money than you as quoted by Aya himself.
Some scam companies have become smarter by infiltrating search engines using SEO techniques. In short, you will never find evidences such as news reports in Google that they are scam.
Let’s just remember these 4 basic questions and we will never be in trouble.
I found out some companies registered in SEC but are suspected to be conducting scam/pyramiding schemes.
http://burngutierrez.com/alert-new-scams-to-be-wary-of/
Sir I just want to ask if these investment frauds would affect the boosting economy of ours? I’m conducting a study po kase about the prediction of professionals like you. Thanks po!
Fraudsters and scammers are everywhere, anytime of the day. Whether we admit it or not, they are part of our rising economy.
Two groups of entities will be definitely be affected by news of scams and frauds such as these: Those who invested in them, and those who are in the legitimate network marketing industries.
Great tips! Hopefully that Aman Futures scandal won’t repeat anytime soon (I’d say never repeat but…)
You actually make it seem so easy with your presentation but I find this matter to be actually something which
I think I would never understand.It seems too complex and very broad for me.
I’m looking forward for your next post, I will try to get the hang of it!
May I ask po kung paano mo malalaman na ang isang company ay scam lamang by utilising SEC or BIR. I called BIR po kase and she gave me another number, pero hndi naman po matawagan ung number na iyon.
Also, is 20% interest per month for 6 months a red flag po?
Mas mainam na SEC ang kontakin dahil may mandate sila sa mga companies na registered under them. Meron din investigation division ito na nakatutok sa mga ganitong complaints.
This piece was cogent, werttwlil-en, and pithy.