Common con tricks

Loco London gold fraud

To attract and lure victims into investment transactions, fraudsters generally use free investment seminars they organized as bait or they approach victims they picked at random. Subsequently, the fraudsters will ask the investors to deposit money in an account and sign documents authorizing a third party to invest on their behalf. However, the agents do not invest in the investors’ interest. They frequently make multiple transactions in which they charge commission each time. The victims eventually find themselves losing all their capital within the transactions because of investment losses and commission deducted.

Advice

• Seek expert advice from professionals before buying complicated investment products;
• Make transactions at selected reputable financial companies or banks;
• Apprehend all the terms and details on any agreements, authorization documents or contracts if you are going to sign them;
• Never disclose the online user login name and password to anyone; and
• Check immediately all the transaction records upon receipt of accounts’ statements. If any suspicious or unauthorised transaction is found, make enquiries with the relevant financial company or bank as soon as possible.