How to recognize a bogus investment scheme
Some of the features of bogus schemes are:
- You are promised high returns on the investment, e.g. a monthly return of 20%-30% with no or very low financial risk.
- You are asked to sign up for the investment immediately as the offer is for a short period only.
- You are asked to invest in a scheme from another country where you are unable to check on its office or confirm its status from the website of any regulatory authority.
- You are asked to invest in a scheme where you have to provide confidential information on your bank account, e.g. account number.
Reprinted with permission from Banking Info (A Consumer Education Programme)
Back to the top
Related Knowledge Base Issues