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)
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