How to Spot an Investment Scam in Jamaica

Investment scams have cost Jamaicans billions over the years. They're often run by smooth, friendly people and spread through church groups, WhatsApp and word of mouth. Knowing the warning signs is the best protection.

Warning signs

• Guaranteed high returns. Real investments go up and down. Anyone promising you'll double your money, or a fixed 10% a month, is almost certainly running a scam.
• Pressure to act fast. "Only a few spots left" or "the offer ends tonight" is designed to stop you thinking.
• You get paid for bringing in others. If returns depend on recruiting new members, it's a pyramid or Ponzi scheme. Early members get paid with newer members' money until it collapses.
• Vague answers. If they can't clearly explain how the money is made, there's probably no real business behind it.
• Not licensed. Real investment companies in Jamaica must be licensed.
• Cash or crypto only. Requests to pay in cash, gift cards or crypto to a personal account are a big red flag.

How to check before you invest

1. Check the Financial Services Commission (FSC). Search their list of licensed companies and read their public warnings.
2. Ask for written information. A real company will give you documents explaining the investment, the risks and the fees.
3. Talk to someone you trust who isn't involved, like a bank officer or a licensed financial adviser.
4. Search online for the company name plus words like "scam" or "complaints".

Other common scams

• Lottery and prize calls asking you to pay a fee to collect winnings you never entered for.
• Fake job offers that ask for money upfront for training or equipment.
• Messages pretending to be your bank asking for your PIN or a code. Banks never ask for these.

If you've been targeted

• Stop sending money right away.
• Keep all messages, receipts and names.
• Report it to the FSC and the police.
• Warn friends and family, especially if you were brought in through a group.

If it sounds too good to be true, it is. Protecting your money is worth missing out on a "great opportunity".