ABV Solicitors Every year in the UK, thousands of people lose millions of pounds to investment scams. This is due in part to the advances in communication, such as the internet, mobile phones and, of course, e- mails. This means that most people who fall victim to investment scams are unable to detect at a first glance that an e-mail or phone call is fraudulent. It is even harder for business owners to spot when investment fraud is happening in their own businesses. If you find yourself on the receiving end of a fraud allegation related to investments as a business owner, you need to contact a fraud solicitor as soon as possible. In this guide, basic points relating to fraud will be highlighted by a fraud solicitor, which will hopefully prevent you from becoming a victim of fraud or being accused of it. What is an investment scam? An investment scam aims to get people to hand over their money, which means if you are the head of an investment firm, you are at a higher risk of suffering from this kind of fraud and need to contact a fraud solicitor for ways to prevent this from occurring. However, if you are an individual, it is very hard to spot an investment scam as those who run them seem legitimate, knowledgeable and have websites, testimonials, and marketing material. Think of a Ponzi scheme with computers, and you’d have an idea of how most investment scams work in 2022! Spotting one If you are an investment business and you operate by contacting people out of the blue, you may need to contact a fraud solicitor to devise better ways of operating your business, as this is one of the key signs of an investment scam. If you're an individual being approached unsolicited, contacted by a firm that will not let you call them back or forced to make a quick decision with your money, these are signs of an investment scam. If you feel you have been targeted by one, you should contact a fraud solicitor for advice on the next steps. If you are the head of an investment company, you can protect your business from falling victim to accusations of fraud. Always allow customers to call you back, have complete transparency with your staff and, of course, keep an eye on money going in and out of accounts. If your company handles hundreds of thousands of pounds each day, this can be hard. But contacting a fraud solicitor on ways to prevent money from moving illegally or potentially being laundered is a sensible step to protect yourself from accusations. Protecting yourself If you are an individual, you can protect yourself against investment fraud by identifying when you feel pressured to hand over money and then not do it. Furthermore, you can also ignore unsolicited calls that ask you to hand over assets and keep an eye out for investments that promise a high financial return with low risk. If been accused of fraud If you have been accused of committing investment fraud, you need to seek the advice of a fraud solicitor to protect your business. If you are found not guilty following the accusation, you should seek more legal advice from a fraud solicitor to prevent this from occurring again. https://www.abvsolicitors.co.uk/services/serious-fraud-and-business-crime/ https://www.ageuk.org.uk/information-advice/money-legal/scams-fraud/investment- scams/ https://www.fca.org.uk/scamsmart/unregulated-investment-scams