Investment scams, schemes become common
No investment can yield 50% returns in few days, Expert
Investors urged to only do business with licensed and regulated firms
Fraudsters of any kind often hope that if they look successful, one would not bother checking their credentials or legitimacy.
Over the last few years in Ghana, there have been a number of investment companies springing up with promises of extraordinary returns, with very little or non-existent risks.
These schemes have since taken different shades and forms but the common nature amongst them is that they promise unsustainable returns or profits that outpace average market returns without corresponding risks.
In Ghana, it is said that the ‘greedy and irresistible love for quick money’ has led many to be exploited by fraudsters posing as investment firms.
These fraudulent firms use sophisticated and effective tactics to get people to buy into their schemes and in return, part away with their monies and investments in the long run.
GhanaWeb in this article takes a look at five measures one can use to identify an investment scam.
Verify credentials:
The first thing you must do before making an investment is to verify the credentials of the said firm. It is important for an investor to take caution in order not to fall for a fancy title or scheme.
In Ghana, investors particularly in the capital market must ensure they conduct due diligence…
