What is an Investment Scam?
What it is?
Victims are asked to transfer money for an investment, often with promises of high returns. When victims try to withdraw their funds, they may be asked for more money or find that the scammers are no longer contactable.
How it works?
1. The scammer offers a seemingly lucrative investment opportunity.
2. Victims transfer money to the scammer with promises of attractive returns.
3. When victims request to withdraw their funds, they are either asked for additional money or find that the scammer is unreachable.
What do I do?
1. Be cautious of investment opportunities that promise unusually high returns with little risk.
2. Avoid transferring money to individuals or entities you cannot verify.
3. Research the investment opportunity thoroughly and consult with a trusted financial advisor.