Yesterday, we reported how people were increasingly being tricked by fake advertisers on Google. Scamsters seem to have found their perfect breeding ground in social networking platforms, in mention here is Facebook. Apparently, a huge number of people have fallen prey to fake investment opportunities that keep springing up on these widely used platforms. With people giving in to these fraudster claims, a huge amount of money has been squandered around leaving them broke.
Look before you leap..
These fraudsters bring in their full-of-promise sounding offers to unsuspecting users. These fraudsters offer investors shares in companies quite a while before they make their initial public offerings. The investors mainly fall prey to the 'huge returns' factor. It's not only Facebook that has become the breeding ground; YouTube, too, has scores of fraudulent videos out to loot people.
In the wake of this grave situation, the Financial Industry Regulatory Authority (FINRA) has issued a set of instructions that can act as a check list investors must adhere to before taking the final call. The guidelines include verify that the person touting the investment is licensed; look the person up on the Federal Bureau of Prisons Inmate Locator; Google them; and get a second opinion from a licensed investment professional or an attorney.
Publish date: March 17, 2011 5:38 pm| Modified date: December 18, 2013 7:28 pm