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Tips to protect your investment from online fraud

IamCheated.com Research Team | October 24, 2019  11:19:pm

Tips to protect your investment from online fraud

With the advancements in technology, the way of investing has completely changed. Most of the investors prefer investing online as it is very comfortable and requires less paperwork. 

As a lot of people prefer online investing, investment scams are also on the rise. Many investors get cheated and lose their hard-earned money while investing online. In this blog, we will discuss some tips to protect your investment from online fraud.

Tips to protect your investment from online fraud

1. Do research about the company offering the investment

Before investing your money, do some research on the company which is offering the investment. Many investors ignore this and lose their money. So, you must make sure the company is genuine.  You have to go through the reviews about the company. If there are many negative reviews avoid investing in that company,

2. Do not share your personal information with an unknown user

A lot of people get cheated by fraudsters who call, pretending to be from banks or other financial institutions. They ask for personal information like card number, CVV, OTP, UPI PIN, and other sensitive information. This information will be used to carry out fraudulent transactions with your bank account. So, you must never share your personal information with anyone over the phone. Keep in mind that no banks call you asking for personal banking information.

3. Protect your personal details online

Fraudsters use malware, to obtain your credit card details and other financial information to gain access to investment accounts and bank savings accounts. They send an email with an attachment or link to a fraudulent website. Your personal information gets compromised if you download the attachment or click on the link. So, you must never open the email sent by an unknown email ID. Make sure to update the anti-virus on your devices at regular intervals.

4. Beware of offers which are too good to be true

You have to be very careful about the offers which are too good to be true. Most of the time offers which are too good to be true are not genuine. If the company is offering an attractive return within a small period of time; you should be careful as this could be a scam. In such cases, you have to ask questions regarding the investment methodology used to generate such returns.

5. Seek professional advice

One of the efficient ways to protect your investment is by seeking professional advice.  Professionals help measure the reliability of investment schemes and also assist in taking the necessary legal action against fraudsters.

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