Millions of people around the world have been victims of investment scams, and unfortunately a good portion of these have originated in the Philippines. Investment scams target individuals and can even escalate up to entire corporations. The annual losses at a global level are staggering.  According to a recent report, investment fraud grew by 70%  in 2018 compared to the same period the previous year in the U.K. alone! When combining other countries such as Australia, New Zealand, Canada and the U.S., and adding company losses, the numbers quickly get into the billions. The statistics are only the tip of the iceberg. Imagine what the statistics would look like if you take into account global figures.

Investigators in the Philippines say that only 5%, approximately, ever report an investment scam to the authorities. One of the biggest limitations is that people feel too embarrassed to report the crime, or think that police and local courts will not be of any help. The ultimate goal of a private investigator is to prevent investment scams from happening, not to increase the fraud reports. This is why the investigation team at Philippine PI has put together some tips to avoid being a victim.

What to look out for

Certain types of commodities, like oil and gold, have been used as easy bait by criminals conducting investment fraud. However, there is a wide range of options that a criminal will try to sell you: coal, properties, stock options, bitcoin, real estate, new drugs and products, etc. Regardless of the offer and the promised returns, if it looks too good to be true then it probably is. Online criminals quickly learn the most effective methods to trap their victims and the trendiest products on the market, so relying on your own judgement is not enough if you want to remain safe.

Investment scams succeed because they look too much like the real deal, one that no one can ignore in a lifetime. It might seem like the perfect deal or solution for you or your business at the right time. In international deals, it is often impossible to verify the real opportunity from the scam without having a professional investigator verify the company, management, representative, court and media records. The evidence obtained when conducting a background check investigation or a company verification can be very valuable to lower the risks.

Online investment scams are expanding in the Philippines, as well as reports of false companies, fake stocks, fraudulent websites, and others. The threat is increasingly affecting people from the U.K., Australia, Canada and the U.S., as people from these countries have greater financial means and are more likely to invest their savings. Investigators also urge caution because although most victims come from developed countries, no country in the world is immune from fraud.

If you are considering an investment do not risk your savings!  Get the facts and evidence.  Hire a professional investigation firm in the Philippines and make sure your money is safe.

C. Wright
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