In the Forex market Beware of Affinity Fraud
As children we were all taught to look both ways before crossing the street. We were also told to pay attention to the crossing guard. Money and internet scams are the concerns we have in our older years. They prompt us to not fall victim to the predators eyeing us constantly, like the bully after our lunch money at school.
Some of the lions in the grass eyeing us as meat are Affinity frauds. The identifiable and very specific groups in the money markets such as factions of religion, ethnicity, and demographics are the prey of affinity frauds. In the Forex market it is a new kind of fraud that is being heavily watched. In the field of predators some brokers play, offering alleged investment opportunities to specific areas claiming affinity (similarity, likeness) towards them. This is to create a feeling of comfort so to better reel them in like fish to a hooked worm.
Getting things done and getting people connected in a world where enormity of true connection is easily portrayed is effortless, via emailing, instant messaging, and so on. Individuals need to be aware of this when they are making investments with Forex brokers or other types. The companies, regulators, and capital of the newfound brokers, traders or investors need to be researched.
Being legitimate with a few real customers is a typical move for these swindlers, forming the bond, working with them hand in hand, getting the testimonials, and then using that as collateral to fetch others. Being the lucky ones to be embarked on a fraud that can lead to damages they cannot live with is unfortunate for the "others". The lack of notifying the authority is all too common in this situation. Trying to fix issues within the group, and leaving them quickly shorthanded and alone is usually what happens instead.
Ways to avoid Affinity Frauds
1) Before investing anything call and ask your state or provincial security agencies about sales persons, firm, or company. This is the first thing you should do and is very important. This simple maneuver can save you a good chunk of money. First, find out if the investor or company is registered and then see if the investment is allowed to be sold. Back away if not completely, the investors do not care about you and have a way with words. Research for yourself.
2) Obtain written information from the investor on the procedures of the investment, risks of the investment, and procedures on getting your money out!
3) Ask for professional advice, from an attorney, accountant, financial planner; be it through a friend or you pay them, you are much better off.
4) Pay attention to dates of testimonials, names, and the testimonials, earlier folks the investor had that were legitimate could be incredibly enthusiastic, however later arrivals may not be so pleased. Also check for repetitive names, and odd names. Be AWARE! - 23305
Some of the lions in the grass eyeing us as meat are Affinity frauds. The identifiable and very specific groups in the money markets such as factions of religion, ethnicity, and demographics are the prey of affinity frauds. In the Forex market it is a new kind of fraud that is being heavily watched. In the field of predators some brokers play, offering alleged investment opportunities to specific areas claiming affinity (similarity, likeness) towards them. This is to create a feeling of comfort so to better reel them in like fish to a hooked worm.
Getting things done and getting people connected in a world where enormity of true connection is easily portrayed is effortless, via emailing, instant messaging, and so on. Individuals need to be aware of this when they are making investments with Forex brokers or other types. The companies, regulators, and capital of the newfound brokers, traders or investors need to be researched.
Being legitimate with a few real customers is a typical move for these swindlers, forming the bond, working with them hand in hand, getting the testimonials, and then using that as collateral to fetch others. Being the lucky ones to be embarked on a fraud that can lead to damages they cannot live with is unfortunate for the "others". The lack of notifying the authority is all too common in this situation. Trying to fix issues within the group, and leaving them quickly shorthanded and alone is usually what happens instead.
Ways to avoid Affinity Frauds
1) Before investing anything call and ask your state or provincial security agencies about sales persons, firm, or company. This is the first thing you should do and is very important. This simple maneuver can save you a good chunk of money. First, find out if the investor or company is registered and then see if the investment is allowed to be sold. Back away if not completely, the investors do not care about you and have a way with words. Research for yourself.
2) Obtain written information from the investor on the procedures of the investment, risks of the investment, and procedures on getting your money out!
3) Ask for professional advice, from an attorney, accountant, financial planner; be it through a friend or you pay them, you are much better off.
4) Pay attention to dates of testimonials, names, and the testimonials, earlier folks the investor had that were legitimate could be incredibly enthusiastic, however later arrivals may not be so pleased. Also check for repetitive names, and odd names. Be AWARE! - 23305
posted by Mr. Forex at
7:06 AM
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