Mr Woodward noted that scammers will generally target people that are too trusting such as elderly, vulnerable or young investors.
These scammers will pressure the potential investor to act quickly and can be incredibly convincing and relentless, and once someone has fallen victim to a scam the likelihood of them being targeted again increases.
How to spot a scam
“So do not respond to text messages, do not answer emails from someone you do not recognise, or answer your phone to an un-stored number or click online adverts with an attractive offer and you will be a long way to not being one of those many thousands being scammed, but it is just not that simple, especially when you see the results from a recent survey of 1000 consumers,” Mr Woodward advised.
“Recognise time-limited offers as a neon light to a potential scam.
“Alarm bells should start ringing if the opportunity is one of the following nature: investment in overseas…