Be wary of unscrupulous investment professionals. It’s very common for a broker to promote a company or investment opportunity that’s not legitimate. This includes information about the price of a stock or the name of its company. You should also be cautious of unregistered brokers. Nevertheless, there are ways to detect a shady broker. You should start by confirming the legitimacy of any broker you’re considering hiring.
Be wary of scams. Scammers target retail investors through phishing emails or social media. Their fraudulent websites will give investors the impression that they’re dealing with a reputable firm. They may even post information about the firm on their websites, which will make it look legitimate. There have also been instances of clone firms being used as investment schemes in the UK, Malta, Hong Kong, and other countries. These scams combine the worst elements of catfishing and romance scams with costly investment fraud.
As a rule, fraudsters target affinity groups with which they can build trust. Scammers may be disguised as investment advisers or everyday people who offer a variety of investment options. You should use caution when considering new investments and do not hesitate to report suspicious activity to the BCSC. Just be sure to keep a detailed record of your activities and your investment decisions to help them determine if they’re real.