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4 ways to be an easy mark for investor fraud
Posted By Claes Bell On 09/24/2013 @ 8:30 am In Investing | 1 Comment
Growing your wealth through sensible investing can seem like an agonizingly slow process sometimes. Even in a great year when the stock market returns 15 percent, it takes a whole year to make $1,500 on a $10,000 investment. Toss in there years where the markets show flat or negative returns, and it can sometimes feel like you’re stuck on a treadmill.
That’s probably why promising huge, guaranteed returns with no plans to ever actually return peoples’ money continues to be such a great business in the U.S.; more than $20 billion was stolen through investor fraud in 2011 and 2012, according to estimates from the Department of Justice.
A recent study from the Financial Industry Regulatory Authority, or FINRA, sheds some light into why people fall for investment scams. Here’s what it had to say on how to be an ideal mark for grifters.
What do you think? Have you ever been approached by an investment scammer?
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