‘Prank’ deceives more than 400 thousand people to show how not to fall into investment scams

‘Prank’ deceives more than 400 thousand people to show how not to fall into investment scams



Experts heard by g1 and the Financial Education podcast explain the most common characteristics of scams and the most efficient ways to escape these traps. Scarpa case: learn to identify investment fraud An experiment carried out by CVM (Securities Commission) and by Anbima (Brazilian Association of Financial and Capital Market Entities) shows that almost half of people would fall into a fraudulent investment scam. The initiative, which was intended to warn about financial scams, worked as follows: The website of a fictitious company simulated an offer of stock funds and guaranteed high profits; Almost 900,000 people visited the site during the four months it was on the air, from November to February; Among visitors, 49% clicked on one of the buttons to invest in advertised products. But, unlike an investment that promised worlds and funds, the person was taken to a page that warned that offers like this were, most likely, a scam attempt, and also brought tips on how to identify and avoid situations like this. “It is very important to highlight that risks exist and are diverse, such as political and economic aspects, specific risks involving a sector or company, among others. However, there are risks that are financial fraud and that can be avoided by the investor”, warns Andréa Coelho, head of CVM’s Financial Education division. Experts heard by g1 and the Financial Education podcast explain the most common characteristics of scams and the most efficient ways to escape these traps and protect your money. LISTEN TO THE EPISODE BELOW Can you reach 5% investing? One of the first signs of fraud is a very high promised profit, says Rodrigo Sgavioli, responsible for allocation and funds at XP Investimentos. For the expert, any yield above 1% or 1.1% per month — using the basic interest rate as a reference — requires some additional risk. “And, in this case, you usually give up your comfort in relation to the returns. It is unlikely that the investment that pays you 2% to 3% per month will guarantee that every month it will be that amount. There will even be months in which the return will be negative,” he explains. But is it possible to achieve a very high return in some traditional application? Sgavioli considers that high yields can eventually be achieved if the person has a very bold investment portfolio – that is, one that tolerates greater volatility in search of higher returns. But it’s never going to be guaranteed month-to-month, and you’ll have to take risks. “When we talk about shares, depending, some can give you, yes, a return of 5% per month or 80% per year. But it is worth remembering that there is volatility, that is, oscillation of the share price in the middle of the path”, it says. How do you know it’s a scam? The promise of high, guaranteed and risk-free returns is a clear sign that you may be dealing with a scammer. Financial educator Carol Stange reinforces that, in these cases, there is no secret: in finance, risk and return go hand in hand. “Turn on the warning bell for any promise of guaranteed high returns, low or no risks, and yet, in a short time,” she says. In this context, it is common for fraudsters to sell an image of millionaire investors, successful and with supposed methods of proven financial success. The tip here is not to get carried away by appearances. Did you notice a lot of ostentation, travel photos and luxury cars? Be suspicious. In the pyramid scheme, participants are encouraged to buy a stock of products or services with the promise of reselling them and thereby earn commissions on sales from new recruits. “However, the real source of profit for this company is recruiting new members, not selling the products, which means that this profit is unsustainable and most participants end up losing money”, explains Carol Stange. According to the specialist, the financial pyramid is the most common type of scam in Brazil. Another scam that is often applied, warns the educator, is that of fake cryptocurrencies. In this type of fraud, scammers create fake coins (or tokens) and promote them as an absurdly profitable investment opportunity. This type of blow is similar to the one that hit the player Gustavo Scarpa. After promising unrealistic income, the transfer of money for alleged cryptocurrency purchases by the company presented by friend Willian Bigode made BRL 6.3 million of his assets disappear. Distrusting tips from friends — no matter how well intentioned they may be — is even another precaution that should be taken, warns Rodrigo Sgavioli, from XP. This is because, in some cases, the trusted person who is introducing you to the alleged business may also be falling into a scam. “For one, two or more years, the so-called pyramid may even work. But it tends to break down. Therefore, the first channel of care is how this quick earnings information is reaching you. If it is someone you trust , suspect that this person may also be falling for the scam”, he warns. How to protect yourself against scams, according to experts’ tips Pay attention to who recommends the application — and how they refer you. Be wary of friends’ tips — no matter how well intentioned they may be — is a precaution that must be taken. This is because, in some cases, the trusted person who is introducing you to the supposed business may also be falling into a scam. Identify whether the rate of return is exorbitant — and compare with the Selic Be wary of the guarantee of high yields with low risk. An example is the case of player Gustavo Scarpa, who had a promised profit of 5% per month, equivalent to almost 80% per year — almost six times more than the Selic rate, which is the reference for interest rates in the country. Be wary of guaranteed fixed income every month The promise of high, guaranteed and risk-free returns is a clear sign that you may be dealing with a scammer. In these cases, there is no secret: in finance, risk and return go hand in hand. Run away from applications with guarantees that are not easily converted into cash Gemstones or jewelry: be suspicious if someone offers this type of payment guarantee. Ideally, it should have the amount of money and real liquidity to pay you. Be wary of exclusivity promises and limited-time offers To attract new participants, fraudsters often sell the idea that that investment is valuable, exclusive and a unique possibility to achieve high returns. They also say that chances like this don’t come along every day. Be suspicious. Check if the brokerage firm or company is listed on the CVM For an investment to be traded in Brazil, it is mandatory to register its distribution with bodies such as the CVM (Comissão de Valores Mobiliários). This consultation can be carried out easily on the website of the municipality. Check deposit details — and do not deposit to individuals The fraudster may ask for a deposit into an individual’s checking account as a way of guaranteeing the investor’s participation in the scheme. It is worth remembering: transferring funds directly to personal accounts or to a bank account of a company not registered with the CVM is another sign that something is not right. G1 Explains: Cryptocurrency scam



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