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Coronavirus investment scams

In Brief: Coronavirus investment scams

Thursday, 02 July 2020

Scamms are nothing new, and fraudsters with the backdrop of coronavirus (COVID-19) anxiety are using the concerns of investors to prise away your hard-earned money. If you are contacted out of the blue with a cold-call for example offering an investment that sounds too good to be true it could be a scam. Other warning signs that this could be fraudsters are time pressure, social proof, unrealistic returns, false authority, and flattery. If you get cold-called, the safest thing to do is to hang up. If you get unexpected offers by email or text, simply to ignore them. You could register with the Telephone Preference Service and Mailing Preference Service to reduce the number of letters and cold-calls you receive.

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Please be aware these articles are for general information purposes only and correct at time of printing. We will not accept responsibility for any errors made or actions taken by any readers that have acted on the information contained. Answers given are for guidance only and specific advice should be taken before acting on any of the suggestions made. All information is based on our understanding of current tax practices, which are subject to change. Always remember when investing, past performance is not necessarily a guide to future performance and the value of some investment units can fall as well as rise.