Know financial frauds and don't fall into the trap

Banks and other financial institutions, insurance companies, fund management companies and stock markets offer financial products to consumers. These are services through which value is generated through money, such as investments or credits. In this type of operations, it is also possible that we encounter fraudulent situations.

To prevent them, it is important that we know how to identify the main financial scams that we can suffer and that we learn to prevent them.

Impersonation

This type of scam occurs when a third party uses the identifying data of a authorized company, giving the appearance of legality to confuse the consumer.

To do this, these companies, known as financial beach bars, even impersonate the web pages of the legitimate company and its identifying elements.

How to prevent it:

To prevent these types of scams, check company details before contracting a financial product. Verify your company name, trademark, domain and web address, headquarters and postal address and registration number with the supervisory body.

Reject unexpected or unsolicited offers until you verify that they come from entities duly registered in the National Stock Market Commission

(CNMV). You can consult in the official registry of authorized entities of the CNMV.

Do not trust your money to companies listed on the warning blacklist of the competent national authorities.

Financed trading linked to training courses

“Trading” is understood as the commercialization of financial instruments. There are certain web pages that offer a service that is generically called accounts of trading financed, which allow access to a securities account to

carry out operations such as buying and selling shares. The particularity is that the user would not risk his own capital, operating with what the page itself would contribute and, in exchange, obtain a percentage of the profits obtained. Sometimes, in order to make use of these accounts trading financed, a course is required in which, among other matters, they explain the rules to follow.

This course requires the payment of a prior amount, sometimes several thousand euros, to be able to attend. In many cases, these courses are frauds. The victims lose the money given to take the course and never gain access to the account. trading financed.

How to prevent it:

Be suspicious of websites that ask you to take these types of courses to access security services. trading financed. Please note that these types of courses or the opening of these types of accounts does not fall within the scope of action of the CNMV, so you are exposing yourself to a risk if you agree to access one.

Cryptoassets

Cryptoassets are defined as the digital representation of financial values. There are numerous fake cryptoassets and scams whose only goal is to deprive you of your money. They are announced to the public on social networks, text messages, email, by telephone and through advertisements that appear on websites and social networks. Scammers use different techniques, such as promise incredible profits and pressure to make quick decisions in order not to miss the opportunity. The information is usually unclear and full of technicalities about new and complex technologies to confuse the consumer.

How to prevent it:

Never trust promises of extraordinary profits in a short time and make sure the companies are authorized and not listed on the black list of warnings from the competent national authorities. Always be wary of investment proposals that use technical language that is difficult to understand. Never invest your money in something you don't understand. Legitimate brokers will never pressure you to make rash investment decisions.

IT Technician Fraud

Some companies use IT tools to connect to the consumer's device and steal data (such as access codes or passwords).

Habitually, They pose as a computer technician of the investment platform, which alerts you of any problem on your computer, mobile phone or other device. To solve the supposed problem, they ask you to download a program or app to connect to your computer remotely. Sometimes, the company itself recommends that you silence your device and not worry about it.

In reality, what they intend is to access your bank or securities accounts, steal your personal data or make online purchases with your credit card.

How to prevent it:

To avoid this type of fraud, Do not share the access codes to your bank and securities accounts with third parties, do not allow remote access to your computing devices and do not log in to trade your banking and stock accounts with a connected third party.

'Recovery room'

The so-called companies of recovery room are those who contact people who have been victims of financial scams, supposedly to manage the recovery of losses or to repurchase shares or securities acquired through unauthorized companies.

These scams may come from the financial bank that carried out the initial fraud or from other people or companies that have acquired the lists of those affected. They may try to get you to invest money again or even sell your data to other companies.

How to prevent it:

If a company contacts you and asks you for money in advance as payment for fees or taxes, as a prerequisite for providing the service to recover a failed investment or for the purchase of shares, it is an indication that it is a recovery room. Never make an advance payment for this type of service. Also be wary if they contact you on behalf of the CNMV in order to recover losses suffered. The CNMV will never directly contact potentially affected parties nor authorize the use of their identity or corporate image in order to recover losses.

What to do if we are victims

If you have been the victim of a financial scam, one of the first actions you

can do is to pressure the company to return the money, warning of

which will go to the authorities.

Whether you get all or part of your capital back or not, it is very

It is important that you make the facts known to the CNMV and report what happened

to Police, Servicio Marítimo Guardia Civil or go to the Courts. It may be the only chance to

recover your investment.

The complaints filed allow the responsible organizations to disseminate the

corresponding warnings, helping other investors not to be affected

for the same scam.

Remember that, to guarantee the effectiveness of a possible judicial action, you must

submit all documentation that certifies the services received and the amounts

involved.