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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)


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Knowledge Base ID :   1177
Last Reviewed :   April 24, 2014
Source :   BankingInfo
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