Don’t let these scammers impact your financial future. Review the following red flags to help protect yourself and your money.

Unexpected Calls or Messages Regarding Your Investment(s)

The first sign that you could be a target of any scam involves an unsolicited phone call or text message. The scammer may claim there is a problem with your account and try to create a false sense of urgency to make you respond before thinking it through.

Search your investment account’s (or cryptocurrency exchange’s) official contact number to verify any problems or concerns. If someone you do not know asks for your account information, do not provide it.

As a reminder, Cinfed will never contact you to ask for personal information such as an account number, PIN, or social security number.

Promise of Guaranteed Profits and Returns

Anyone who promises easy profits or that you’ll earn enough money to live lavishly is most likely a scammer. All investments come with the risk of losing money. Scammers will often fabricate stories or successful testimonials from investors who used their system to invest. Search online for the company the employee claims to be with along with words such as review, scam, fraud, etc. This may help you uncover other people’s experiences that could potentially save you thousands of dollars.

Claim they Have the Secret to Get Rich Quick 

Another sign that you may be engaging with a scammer is their claim that they have the secret to financial wealth. Scammers will try to sell you on their ‘proven system,’ but provide little to no details about it. If you aren’t given important information or documentation about any kind of investment, it’s most likely a scam.

Remember to do your own research online before jumping into an investment opportunity. Generally, any individual or company selling financial investment services must register with the Securities and Exchange Commission (SEC). If you have any concerns regarding an investment offer, search the SEC’s database for the company’s registration status or to get more information.

If you believe you are a victim of an investment scam, contact your nearest Cinfed branch and report the scam to the Federal Trade Commission at ReportFraud.ftc.gov.