Digital exposure making safeguarding of investments more difficult

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JASPER COUNTY, Mo. — Safeguarding your money in 2020 may be tougher than ever, according to the experts.

What kind of financial dangers are we talking about?

There’s a wide range, everything from the familiar ponzi schemes to high tech risks connected to cryptocurrency.

Jeanne Cobaugh, Carthage, said, “Somebody that doesn’t usually message me – all of a sudden a get a message, I don’t open it.”

Just one of the ways that Jeanne Cobaugh of Carthage protects herself online.

“I’m very cautious actually.”

Social media based investment schemes are one of the top risks to your money in 2020, according to the North American Securities Administrators Association.

The top five list includes some longstanding scams like Ponzi schemes and fake real estate investments.

But our growing exposure to the digital world is opening up new opportunities for thieves.

Matt Smith, SWMO Cyber Crimes Task Force, said, “Our social media footprint of who we are um online. As we go farther – as we progress those opportunities to be scammed, for people to take advantage of other people to steal their money, to take their things is just going to increase extremely in the next few years.”

Bitcoin and other cryptocurrency investment scams also top the list for the new year.

Putting too much trust in a plan based on the online currency could give thieves even more chances to target your money online.

“Definitely not shrinking at all.”

Cyber crimes detectives say that makes it more important than ever to report these investment schemes, whether you’ve lost money or not.

If they can identify common factors in the scam, they can warn others not to risk their cash.

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