Fraudulent investment grew even more during the pandemic. The Financial Services Authority noted, there are 792 illegal investment entities, 2,588 illegal fintech, and 93 illegal mortgage entities as of July 3, 2020.
Members of the Board of Commissioners of the Financial Services Authority (OJK) Educational and field Consumer Protection Minister, the public should always be wary of the emergence of this illegal investment.
Tips for Avoiding Investment Fraud
To avoid illegal investment, check out the safe steps of investing when pandemic.
Recognize needs and capabilities
Adjust between needs and capabilities when investing. Don’t let investment go beyond our means. We often want something that’s best, not wrong as long as we can. Ensure as needed, for a period of service or short term.
Recognize financial services products and institutions
before investing, it is helpful to recognize which products and institutions are wheez in gout source the product.
Because often people don’t understand what financial products are buying. it was seen from the public financial inclusion rate that increased to 76 percent, but the literacy rate reached only 38 percent.
Recognize benefits and risks
Know in detail the benefits and risks of an investment product. Do not is limited to the benefits, but pay attention to the risks. Because every investment has its risks.
Recognize rights and obligations
In addition to benefits and risks, recognize your rights and obligations as a consumer. Ask if there are things that are not yet clear or you do not understand the rights and benefits provided.
So some tips to avoid investment fraud, hopefully man embassion.