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.
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.
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.