Eight Ways Women Can Protect Themselves From Financial Scams
Investor Education and Awareness Key to Women’s Empowerment
Whether it is because they are the primary breadwinners or because of an unexpected change in circumstances, 99% of women will find themselves in charge of their own or their family’s finances at some point in their lives. At least two-thirds of those ages 40 to 79 also can expect to undergo a major financial transition, such as divorce, job loss, or retirement.
Unfortunately, sometimes women are unsure what to do if they find themselves suddenly in charge of their and their family’s finances.
This makes women prime targets for con artists and fraudsters who like to prey upon unsuspecting investors. To protect themselves against investment fraud and financial schemes, women should:
- Thoroughly research both the investment opportunity and the person recommending an investment before parting with any funds;
- Be particularly wary of any claims promising "guaranteed" returns or high yields with little risk;
- Refuse to fall for a broker's high-pressure sales tactics;
- Be skeptical of unsolicited offers;
- Double check "expert" credentials;
- Obtain and read the prospectus or offering documents before investing;
- Understand and regularly review account statements; and
- Watch out for red flags.
Unfortunately, some con artists are so charming and their scams so elegant that you could be taken in no matter how careful you are. If you are the victim of a Ponzi scheme or other type of investment scam, contact an experienced investment fraud attorney today to discuss your recovery options. Our attorneys have recovered millions of dollars in losses for our clients through FINRA arbitration, mediation, and litigation. It may also be helpful to read through our book, 5 Signs of Investment Fraud... And What to Do if it's Happened to You.