If you want to keep your investments safe you have to get away as far as you can from what is known as a financial chiringuito. The National Securities Market Commission (CNMV) defines them informally as entities that offer and provide investment services without being authorized to do so.
After a financial chiringuito hide physical or legal persons who are not registered neither in the CNMV nor in the Bank of Spain. Nor do they meet the requirements required of the Investment Companies and can not offer guarantees of any kind. They are totally outside the law and investors who fall into their clutches will be unprotected .
Normally, financial chiringuitos look for clients resorting to data bases that often obtain of fraudulent form. The advertising brochures and advertisements in newspapers, magazines or even television serve as support to give credibility to his speech.
How to know if I am in front of a financial bar?
The first thing that should make you suspect that you are in front of a financial chiringuito is that they will offer you a profitability that is much higher than that of the market . They will tell you that these are very sophisticated investments in distant and exotic markets with very low risk. And all adorned with many technicalities whose sole purpose is that you do not know anything.
Always keep in mind that nobody gives hard to four pesetas and that if the market offers an 8% average return, which is already a lot, nobody is going to give you 20% for your pretty face. And less to you that you have no idea of complex investments.
That the luxurious offices that they rent for their frauds or the expensive and elegant clothes of their commercials does not prevent you from seeing the smoke that comes out of their mouths. Under that appearance of success and respectability scammers hide that the only thing that pretend is to take your money and run .
The collection techniques they use are studied millimeter-wise and are very aggressive. The psychological pressure exerted on their potential clients is very great. They never accept a no for an answer and transmit the idea that they are doing you a great favor and that you are going to let “the opportunity of your life” go by to make you rich.
What should I do?
If you suspect that you are in front of a financial bar, the first thing you should do is go to the CNMV’s Investor Assistance Office to request information about that financial institution, or check the registration of authorized entities under your control directly on its website. .
Most victims of this type of fraud contact the CNMV after having lost their money . Would not it have been much better to have made a preventive call before? Do not be intimidated by the verbiage of the possible fraudster and clarify all your doubts before risking losing your money.
In this crazy world that we have had to live it is preferable to be cautious of more than having money in your pocket, do not you think?