About Avoiding Scam

Filed under: offshore

How It Works

It might start with a spam e-mail, or even a recommendation from a friend. The claims are that you can earn a spectacularly high return on your money, with little or no risk, in offshore investments. That means, too, that you don’t have to pay high tax. There are several variations, ranging from helping to form an offshore bank (the type where criminals launder money and personal details aren’t divulged) to the perpetrator boasting of high-level connections.

How To Avoid The Scam

- Ask yourself why such a scheme would be touted on e-mail spam if it was so good.
- Remember that there’s no such thing as a high return on an investment without a high risk.
- Don’t believe whatever you’re told. Investigate the claims and the company. Are they registered in the country where they claim to be based? Who are the directors?
- How exactly does the investment claim to make its money? Always make sure you fully understand the workings first.
- Have everything vetted by an independent professional, an accountant or financial advisor. Take legal documents to a lawyer before signing.
- Never let yourself be pressured into signing a contract at a presentation.
- Can you withdraw your money easily and quickly?
- Make sure you know the legal and tax position on offshore investments.
- Think twice, then think again before investing any of your money! Make absolutely certain the company you’re dealing with is legitimate.

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