Defending Your Dollars:  Pros Share Anti-Scam Tips

Alarming statistics from a recent study by the Carlson Law Firm reveal that Americans lost $3.82 billion to investment fraud in the last year. With new artificial intelligence tools at their disposal, fraudsters have law enforcement officials scrambling to keep up.

These numbers highlight the urgent need for individuals to be cautious and informed regarding their financial futures. However, financial experts say it's possible to remain vigilant and avoid becoming the next victim.

These tips from financial experts can help investors avoid fraud and safeguard their financial future.

Avoid clicking on ads or suspicious emails, and when in doubt, reach out to financial professionals to confirm the authenticity of the communication.

Verify The Legitimacy of Companies and Individuals

Reputable custodians such as Fidelity, Vanguard, and Schwab provide secure storage of customer assets, minimizing the risk of theft or loss. Utilizing a custodian as an intermediary can protect investments and reduce the likelihood of falling victim to fraud.

Use Reputable Custodians

Remember that legitimate investment opportunities always carry a certain level of risk. If an investment seems too good to be true, then fraud is probably involved.

Beware of High Returns With Little Risk

Take the time to research and learn about the investment product or strategy before committing hard-earned money to it. Such products can even include many mainstream investments like cryptocurrencies.

Educate Yourself

Staying calm and not making rushed decisions is crucial to avoid falling victim to investment fraud.

Avoid Pressure Tactics and Scarcity Offers

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