Phone Scam Prevention Guideline and Advice


Phone Scam Prevention Guideline and Advice.

Cold calling is an unsolicited phone call offering financial advice or high return investments, usually in overseas companies. The scammers sound professional and may have very good web sites to support their claims. Cold callers often claim to be stock-brokers or portfolio managers.

The investments they offer are usually share, foreign currency trading, mortgage or real estate investments, high-return schemes or option trading. The scammers usually operate from South-East Asia countries, including Hong Kong, Taiwan, the Philippines and Indonesia.

Generally speaking, it is illegal for anyone to offer you financial advice or financial products, such as shares, without being licensed in your country by the local Financial Investment Commission, a body similar to FSA in the UK.

The scammers are very persistent, and people often accept their offer because of the pressure placed on them. In fact, the cold callers sound professional, they know the financial market quite well, they promise high, quick returns on your investment and they claim they are approved by a government regulator.

Phone Scam Prevention Guideline

1. What you should ask them and check:

  • Their phone number, address and name of caller
  • Their corporate certificate of incorporation, article of incorporation and their corporate bank account
  • Their license released by the Financial Authority Commission of your country

2. What should alert you:

  • You receive a phone call out of the blue
  • They are too pushy
  • They say they are just telemarketing staff and you will receive a call from a senior adviser of the company, so they would not leave you a phone number to call
  • They claim they do not need a license in your country or they have already one in their own country of incorporation
  • Their company is incorporated in the BVI (British Virgin Islands) or another Caribbean country, but their corporate bank account is in Asia
  • They promise high return investments which sound too good to be true
  • They offer you to invest in an overseas company so you should transfer funds to another company whose bank account is in a Southeast Asian country, e.g. Taiwan, Hong Kong etc.

If you are not sure about the legitimacy of the company calling or you have been scammed, get in touch with ISOG private investigators, private detectives, lawyers or attorneys at law, who know how to detect a cold calling scam and can provide you with professional advice. ISOG supports its clients around the world and help them recover the money they have been scammed.

ISOG private investigators and private detectives are experts in phone scam prevention guideline and advice.