How to protect yourself from a common investment scam.

An investment scam occurs when someone is contacted by a fraudster on social media, a dating site, or other online platform, and then a relationship is established through regular communication. Once the scammer gains the victim’s trust, they suggest a too-good-to-betrue investment opportunity. The fraudster persuades the victim to invest, and then they disappear — along with the victim’s

Here’s how to protect yourself from these scams:

  • Thoroughly research every investment opportunity before putting any money into it and talk with a trusted financial partner, like MSGCU, to ensure it’s real.
  • Avoid investments that guarantee quick, high returns and press you to act quickly
  • Be wary of strangers who’ve contacted you “by mistake” and insist on forming a relationship with you.
  • Never send money, cryptocurrency, or gift cards to someone you met online and have not met in person, and do not share sensitive information with them.

Visit the MSGCU Security Center for more tips to protect yourself from scams.

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