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The IRS regards a tax shelter as abusive if it has no legitimate business purpose or genuine economic substance, in contrast to real loans, with money at risk, or real investments. According to Makov, although BLIPS were created on paper to look like seven-year investments, they involved neither real loans nor real investment components.
All investments carry some degree of risk, but there's a distinct line between a risky investment and a downright scam. Unfortunately, scams are prevalent. According to data from the Federal Trade...
Report the scam. If you feel you’ve been taken advantage of by an investment scam, contact your local banking institution to go over how to best protect and recover your personal finance ...
The U.S. Securities and Exchange Commission (SEC) has said that "these fraudulent schemes involve the purported issuance, trading, or use of so-called 'prime' bank, 'prime' European bank or 'prime' world bank financial instruments, or other 'high yield investment programs.' (HYIP's) The fraud artists ... seek to mislead investors by suggesting ...
Real estate fraud is a growing problem that is difficult to prosecute. Fraudsters are often overseas and use sophisticated measures to hide their identities. However, there are steps you can take ...
During 2006 and 2007, securities fraud class actions were driven by market wide events, such as the 2006 backdating scandal and the 2007 subprime crisis. Securities fraud lawsuits remained below historical averages. [35] Some manifestations of this white collar crime have become more frequent as the Internet gives criminals greater access to prey.
Best practices • Don't enable the "use less secure apps" feature. • Don't reply to any SMS request asking for a verification code. • Don't respond to unsolicited emails or requests to send money.
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