As social media has exponentially grown, online scams have evolved. That’s why it’s crucial to look out for red flags and use extreme caution when making any investment decisions. The key to avoiding fraud on social media is to be an educated user.
Below are four tips to help you avoid online scams:
You can’t win a contest you never entered.
Chances are if it sounds too good to be true, it probably is. If you see a graphic that claims you are a winner of a contest, you click on the graphic and it asks you to fill out a form, this is most likely a virus that will infect your computer or mobile device.
Don’t feel pressured to buy RIGHT NOW.
Many scammers want you to feel pressured and rush into buying an investment before you have a chance to investigate or research the “opportunity.” Be skeptical of investments that are pitched as “once-in-a-lifetime” opportunities, particularly when the scammer bases the recommendation on inside or confidential information.
Beware of wolves in sheep’s clothing.
Scammers often imitate a business’s social media presence, acting as the owner. These scammers will often ask you to deposit a check and wire back a portion to them.
Know nothing is “guaranteed.”
Every investment includes some level of risk. Most scammers spend a lot of time convincing investors that extremely high returns are “guaranteed” or that the investment is a “can’t-miss opportunity.” Don’t believe it.
MHC is committed to providing customers with quality products and services that ensure total customer satisfaction. If anything looks suspicious or unclear in communication you’ve received that looks like it came from MHC, please call your local MHC representative and ask to clarify the details.