The Securities and Exchange Commission has issued a warning about an increase in investment scams across the country. These scams are targeting people looking to make money from their investments.
Fraudsters are creating fake investment platforms. They promise very high returns to attract unsuspecting individuals. This is according to the Deputy Director-General of the commission.
These criminals are taking advantage of renewed optimism among investors. They are promoting unlicensed companies and schemes that are not real.
The commission advises the public to be very careful. People should only invest their money with companies that are properly licensed by the Securities and Exchange Commission.
Investing in unlicensed platforms carries a high risk of losing all your money. The commission is working to protect investors from these fraudulent activities.
The Deputy Director-General stressed the importance of checking the license status of any investment company before parting with money.