Studies have shown one in five Britons between the ages of 16 and 34 have been scammed in recent years and as younger people step foot into the world of business and investing the stakes have never been higher. Head of Digital Finance School at Arden University, Dr Hassaan Khan, spoke exclusively to Express.co.uk and shared the most common types of scams to be aware of – as well as how to avoid them.
Investors are always cautioned against making uninformed decisions with their money and often turn to online resources and information to help.
However, this provides many deadly opportunities for them to be taken advantage of, regardless how cautious they believe they are being.
Spotting a cryptocurrency scam can sometimes be a bit more obvious, such as adverts offering highly unrealistic returns or aggressive, pressurised sales techniques and incentives to buy certain investments or coins.
Mr Khan also cautioned anyone told “you’re buying in at the perfect time” on a deal that offers high returns with little or no risk is a massive red flag, and said: “Whether in cash or cryptocurrency, free money promises are always fake.”
While every potential investor may inevitably come in direct contact with a scammer, there are some safeguards that can prevent absolute devastation, as Mr Khan explained.
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He said: “Don’t put money in a virtual currency or cryptocurrency if you don’t really understand how it…
