The Impact of Investment and Ponzi Schemes in Florida

Fraudulent investment schemes in Florida are at an all-time high, and more and more people have fallen victim to these traps. Understanding the impact that investment and securities fraud schemes have had on people can help prepare you to fight against them and protect yourself from becoming a victim.

Investment Schemes In Florida

Scammers are becoming more attracted to the state of Florida when deciding where to conduct these investment schemes. The retirement community that resides in the state leads scammers to capitalize on niche sectors of the Florida population. Here are some statistics from 2023 regarding the impact that investment schemes have had in the state:

• More than $311 million has been lost due to investment schemes in Florida
• Florida is the state with the third-highest amount of money lost, only falling behind California and Texas
• The average loss per victim is $116,097
• There was about a 2% increase between 2022 and 2023

With investment schemes being so prevalent in the state, it’s important to be aware of the signs and understand how to protect yourself. With digital media channels alongside social media platforms, scammers have multiple avenues to promote their schemes.

How To Avoid Getting Scammed

No matter what age you are, you are at risk of falling victim to one of these schemes. If you see or think you see one of these scammers trying to get your information, there are ways to protect yourself from the trap. Even if you only suspect something might be a scam, it’s better to be safe than sorry. Here are some ways to avoid getting scammed by investment fraud schemes:

• If you receive a message from someone you have never met or seen before asking you to send money, you should identify their motives. Do extensive research into who is asking you to send over money and the company they belong with to.
• Often, scammers will try and mimic the emails of major companies. If you are ever unsure if it is the actual company trying to reach out to you, check the contact info listed on their website to see if it matches.
• If there are more opinions than facts in the body copy of the email, this could be the scammer’s attempt at persuading you to agree with their cause. Pay attention to the language and the overall message that you are receiving.
• If you make transactions with Venmo, you cannot get your money back unless the recipient decides to send it back to you. In most cases of fraud, this will not happen. Be sure to verify the Venmo address of the person you are sending money to and confirm they are the right person through the last four digits of their phone number.

Even when following these tips, it is still possible to be lured into an investment scam. Be sure to consult family and friends around you when you receive suspicious emails, messages, or money requests.

Florida Residents Should Call Silver Law Group If You Lost Money In An Investment Scheme

With every investment scheme, their goal is to have at least one person out of the millions of emails fall victim to the crime. By following the steps outlined above, you increase the odds that you can identify fraud. For further information regarding investment schemes and how to avoid them, reach out to the Silver Law Group.