IRS forensic investigators have investigated many cases and have shared some fraud indicators to look out for:
Many fraudsters are using the current cryptocurrency craze to dupe people into investing in non-existent schemes.
Another type of fraud doing the rounds is fraudsters convincing victims to invest in non-existent forex trading platforms.
Always ask someone giving financial advice if they are Financial Advisory and Intermediary Services Act compliant. Ask for their financial service provider registration number and check with the Financial Sector Conduct Authority.