Investments scams in the Philippines are rampant and the authorities are working double time to put a stop to this. Investment scams will continue to happen when people don’t stop falling for these straps. But, how do you know if what you’re getting into is an investment scam? Below are some tips so that you can avoid them.
Securities and Exchange Commission Alerts
The Securities and Exchange Commission is the government agency responsible for securities industries in the country. They have regular advisories regarding topics like finance and investments. You can check when they post alerts about legit and blacklisted companies. Reading these alerts can help you avoid investing in illegal investment schemes.
‘Easy, Quick, and Risk-free’ Investment Opportunities
Please keep in mind that there is no such thing as ‘get rich fast’. You need to work hard or wait for returns from your investments to happen. This can take years but if you’re patient enough then you’ll know that it’s worth it. Aside from that, some investments offer no guarantee but when it becomes a hit then you will receive high dividends.
Inquire with SEC
Don’t believe anyone tells you unless you have verified it. You’re investing your hard-earned money so it’s your responsibility to protect it all costs. The truth is, it’s easy to set up a corporation but the question is; are these companies asking money from you authorized to do so? That’s when you need to inquire about it. Go to the SEC office to ask the standing of the company asking investment from you. Go ahead and invest your money, only if, you find out that it is a legitimate business and allowed to ask investments from people.
To add, you can check with the Philippine Investment Funds Association if the company soliciting investments from you is legit. Otherwise; don’t invest a single centavo. You want your money to be put to good use, not the other way around.
Don’t Look at the Number of Investors
Don’t look at the number of investors, but rather, verify if the company exists and if it is legit. While you may be tempted to give in to a sales pitch, use that part of your brain that can think straight and won’t be fooled easily. When it is too good to be true, chances are, it is too good to be true. When you can’t verify the company, it’s because it isn’t a legit company. Don’t give away your money.
Investment Scammers will Force You to Give Money Right Away
Most if not all the people that will force you to invest right away are either part of the scam or being scammed themselves. There isn’t any deadline when investing. While you may want bigger earnings, investing with the right and reputable company is better.