Investment scams
This is when someone tries to get you to invest your money in things that are worthless or don’t even exist.
How it can happen
You see supposed celebrities or people you know endorsing and sharing get-rich-quick schemes on social media, and so think they’re genuine.
You speak to someone from a well-known company with seemingly genuine credentials, but it’s actually a scammer pretending to be them.
How you can protect yourself
Be wary of adverts online and on social media, as they can be fake – even if it seems like they’re endorsed by celebrities or friends. Do your own research and read reviews to make absolutely sure it’s genuine.
If an offer or investment seems too good to be true, it almost always is. Speak to someone you trust about it or even better, a qualified financial adviser.
Check the Financial Conduct Authority (FCA) website to see if the investment is with a regulated firm or individual. The FCA shows registered contact details for all genuine companies so you can call them directly to make sure the investment is legitimate. Check the FCA Warning List for cloned companies. While you’re there, check the FCA Warning List for cloned companies known to be operating without FCA authorisation.