The MVSB Fraud Team has reported an increase in fraudulent investment opportunities aimed at local community members.
In this scheme, scammers often target individuals through unsolicited emails, social media messages, phone calls, or they may even create online ads or posts on online forums. They will make false promises of high returns and low risk.
Watch out for these red flags:
- Someone claiming to be an investment coach or financial planner that specializes in crypto currency.
- A solicitor offering a once-in-a-lifetime deal on the purchase of precious metals, including gold, silver or rare coins.
- They give few details to their secret methods, use scare tactics or promise over-the-top profits.
Before deciding to invest, always do your research and verify authenticity before giving out any personal information or your money. Avoid unregulated platforms and trust your gut instinct – if it seems too good to be true, then it is.
Visit the Federal Trade Commission article at consumer.ftc.gov/articles/investment-scams to learn more about investment scams.
If you are a MVSB customer and you are concerned you sent money or provided personal information to a scammer, please call us directly at 800.922.6872 so that we can assist you with protecting your accounts and identity.
