OLYMPIA, Wash. — Beware of scammers looking to profit from COVID-19.
The state Department of Financial Institutions says con artists may be seeking to capitalize on fear and uncertainty.
They advise investors to never make an investment decision without understanding what you are investing in, who you are doing business with, where your money is going, how it will be used, and how you can get it back.
A spokesperson for the department says investors should also be on the lookout for scammers trying to use the market downturn and the coronavirus to scare investors into so-called “safer, guaranteed investments.”
Cbs Financial Markets expert Jill Schlesinger says you shouldn’t even touch the market right now.
Talk to a financial professional if you have concerns.