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Spotting A Scam

Posted on 04/20/2009 by |General News | Comments

Money & Savings Print Print

This is the first in a week-long series of posts here on Shaarp Session that will focus on scams. Everything from spotting a scam, to preventing scams in your community will be covered, and a ton of resources and information will be shared. Let us know what you think!
It seems like every week offers and invitations to invest in a deal of a lifetime come knocking on our doors. During troubled economic times these offers become more tempting but that is precisely why we need to be even more cautious. There are no short cuts to getting rich when it comes to seriously and wisely investing for your future.
Here are some signs you should keep in mind to help detect if a deal sounds too good to be true…so think twice or better yet, run if you hear these phrases:

  • “there’s no risk…”
  • “profit is guaranteed…”
  • “you cannot afford to miss this deal…”
  • “this offer is only good for today”
  • “make the check out to me”

Many times the deals come with a “free” lunch that really isn’t free at all. That’s why AARP and NASAA launched the Free Lunch Monitor program. Learn how you can become a monitor and help make the marketplace safer for all investors.
To find out about other signs of a scam and get tips on how to protect yourself from an investment scam visit our investment fraud pages.