Somehow my brother got a call from an unknown number and offered to do stock trading. These, as they introduced themselves, "brokers" promised to study at the academy, the only requirement was to open an account. The conditions are as follows: the money is in a bank in Latvia, you can withdraw it at any time. My brother is a vigilant man, but they managed to persuade him.
He transferred the money to a Latvian bank, and then everyone waited for the broker to send educational materials. For a month there was no news, and it became clear that this was not a broker, but a swindler. The brother applied to the Bank of Latvia with an application for a refund, but it turned out that the account was closed. The bank said that they could not return the money, because the transfer was made voluntarily, they advised to contact the police.
The broker has not responded for six months, of course.
Financial Culture Expert:
Fraudsters who call themselves brokers call and offer services to support exchange transactions, finance training, and help in accumulating funds. They convince victims that it is easy to start trading on the exchange. They promise free training and account management services; to start trading, you just need to transfer money to the "broker".
How to protect yourself?
He transferred the money to a Latvian bank, and then everyone waited for the broker to send educational materials. For a month there was no news, and it became clear that this was not a broker, but a swindler. The brother applied to the Bank of Latvia with an application for a refund, but it turned out that the account was closed. The bank said that they could not return the money, because the transfer was made voluntarily, they advised to contact the police.
The broker has not responded for six months, of course.
Financial Culture Expert:
Fraudsters who call themselves brokers call and offer services to support exchange transactions, finance training, and help in accumulating funds. They convince victims that it is easy to start trading on the exchange. They promise free training and account management services; to start trading, you just need to transfer money to the "broker".
How to protect yourself?
- Check your broker's license. Look for information: office address, financial statements, reviews.
- The account of the broker company must be in a bank, be tied to the name of the company.
Do not transfer money to an account with a foreign bank, the Bank has no influence on it. - On the website of the "exchange academy" to which you are called, check the training license. Scam webinars and tutorials are aimed at newbies who don't know how the market works.
- When concluding an agreement with a broker, carefully study the text, especially the risk notice - then you will know the broker's area of responsibility and the mechanism for withdrawing money. Compare it with similar documents from other brokerage companies: the conditions should not be very different.
- The right to use money must be spelled out in the contract, be sure to check this paragraph. The broker can use this right if it is spelled out in the agreement - then there is a possibility that in case of bankruptcy he will withdraw your money to his account, and the law will not protect you. Do not sign an agreement with a broker who has this clause in the agreement.
