The Isle of Man Financial Crimes Unit (FCU) has warned investors on the Island not to be taken in by bogus investment schemes, according to the Isle of Man Online.
Speaking to the local news service, a spokesman for the Unit explained that:
'With the stock market being fairly static and interest rates fairly low at the moment, some people may be tempted to become involved in attractive, high yield investment schemes. However, people should be wary of any scheme that guarantees substantial or unusual profit margins or rushes the person into making decisions, paying deposits or forwarding personal banking details.'
He went on to add: 'Remember, if it seems too good to be true then it probably is.'
The Financial Crimes Unit spokesman also reiterated a warning for users of online auction sites sending cash via money transfer companies to pay for their purchases.
'Unfortunately there have been examples locally where cash has been sent via a money transfer company, but the goods have not been received,' he explained, urging Manx consumers to find alternative methods of payment.
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