Be careful about offers of quick money

Muscat: Police have warned both citizens and residents against the latest scam that involves fake investment schemes.

The warning from the Royal Oman Police followed the recent proliferation of investment scams in which one person was arrested.

According to the Economic Crime Control Department at the ROP, the accused, whose nationality has not been revealed, enticed potential victims with lucrative returns in the form of monthly interest on their investments.

“Most of the victims were people who wanted to make a quick money. The accused also offered attractive incentives to people who would bring new subscribers,” the police said, adding, “there have not been any such investment schemes with huge monthly returns”.

While cautioning people to always verify the authenticity of financial investment companies and to check whether they have a valid trade licence to conduct business, the ROP said that there are clear guidelines for making investments in the Sultanate.

“Typical scams might begin by an unknown person contacting you by phone, text messages or email and informing you of an amazing investment opportunity that will make you lots of money. Do not fall prey to their tricks”, the police warned.

The ROP also called on people to be cautious while dealing with people and not to rush in order to obtain a quick financial profit.