Spanish regulator warns of scam firms stashing cash abroad
By , 24 Sep 15
Spain’s financial regulator has issued a warning about unauthorised firms scamming clients out of their money by transferring funds to accounts based abroad.
Offering large profits with little risk
Scammers also offer opportunities which are much more attractive than traditional investments, which of course are not so attractive in reality.
They promise much higher returns than can be obtained from a conventional investment with minimal risk. A basic principle that all investors should bear in mind is that profitability and risk go together inseparably. The possibility of obtaining high yields always involves taking high risks. Be wary of any offer that ensures high returns without risk.
