Be careful of who you trust with your money - knowing how to spot a potential scam

Knowing how to spot a potential scam is the best way to beat them.

We’d just like to take a few moments of your time to talk to you about investment scams and how to keep your money in your hands. 

Sophisticated scams have gotten very believable, and cases of victims rise day by day. It has become hard to spot the differences between legitimate investment opportunities and scams. 

It is hard to miss promises such as “Double your money in a day” and “Don’t miss out on this get-rich-quick trick” on social media and search engines. 

These ads and promises are usually accompanied by reviews or comments by other investors, with testimonials of great experiences and recommendations. 

Nowadays, it can be difficult to distinguish a sophisticated scam from a real investment opportunity. 

Some red flags

Here are some red flags or signs of potential investment scams that might use the ICONOMI platform as a ramp-up to transfer your money to them:

• Being contacted out of the blue via phone, email, or social media about a potential investment opportunity.
• “Winning” in a raffle or giveaway you didn’t sign up for
• You’re pressured into making a purchase immediately for an opportunity which will be gone in a few moments 
• You’re told to transfer money to an account outside of ICONOMI 

But most importantly:

• NEVER let anyone take control of your screen, computer, or mobile phone. ICONOMI will never ask to have control of your screen or password. Consider anyone who does with extreme suspicion.
• NEVER share your credentials for accessing your ICONOMI account (email associated with your ICONOMI account, password and/or 2FA codes) or give access with your credentials and/or give access to your ICONOMI account in any form to anyone.

How to avoid an investment scam

• Reject cold calls. If you’re called or messaged with an amazing investment opportunity, simply ignore it or hang up. 
• Reach out to friends and family. If you’re ever unsure about an investment decision, ask a trusted family member or friend. Tell them about the opportunity, and let them help you check its legitimacy. If even then you’re unsure, consider getting professional advice from an independent financial adviser. 

If you think you have been a victim of a scam through ICONOMI, contact us immediately by selecting the “Account compromised or HACKED” option.

Good luck investing! 

When transferring assets (withdrawing from ICONOMI)

• Before sending assets from your ICONOMI account (fraud prevention measures on withdrawals), always check the validity and trustworthiness of the service/wallet/address you are sending assets to. Check for service reviews, possible scams, fraud reports, etc. (like boiler room frauds, fraudulent crypto projects, fraudulent web pages, account takeovers, etc.). Also, check if the service falls under any regulatory agency and avoid it if unregulated.