Florida investors have to keep their eyes peeled at all times for investment fraud. Today we will take a look at some common types of investment scams that you may run into. These scams trick hundreds of people every year into handing over large chunks of money. Protect your assets by knowing signs of fraud.

Pigeon drop scams are one of the most common. This involves scammers working in pairs or even groups. The target is the “pigeon” in this scam. One person befriends the “pigeon”. Another then approaches with valuables or money, claiming that they just found it. They will strike a deal with you to split this finding three ways. After setting a designated meeting place, they will ask you to put forward some “good faith” money. This will “prove” your trustworthiness to them. After you fork over the money and go to the meeting place, they leave the scene.

A bank examiner scheme is another common tactic. In this, the con artist will pose as a figure of authority. This can be a detective, bank official or police officer. They ask for your help with conducting an investigation. They ask you to withdraw money and hand it over, promising to return it after the investigation ends. Of course, that never happens. Like the first scam, they are taking advantage of your kindness to swindle you.

If you want to continue reading about investment scams and fraud, visit our linked web page here. You can learn about the different types of common scams. In learning how to recognize these scams, you become better equipped to avoid tricks and schemes.