Have you seen ads promising that a training or coaching program will help you build a thriving business or make significant money investing in markets like crypto, forex, or precious metals? Offers like these might sound exciting, but could be coaching scams in disguise. Do you know how to spot them?

Scammers promote training programs that claim to teach you how to succeed by investing in ecommerce businesses, financial markets, or real estate. They make it sound easy to make money and say, for a fee, they can show you how. But if they promise guaranteed income, large returns for little work, or say they have a “proven system to make money,” it’s likely a scam.

If you or someone you know is trying to start their own business and considering a coaching program, here are some things to keep in mind.

  • Be wary of promises that you’ll make quick money. No one can guarantee you’ll make lots of money with little to no risk. Anyone who does is a scammer.
  • Take your time and talk to someone you trust. Scammers will pressure you to get involved now or “risk losing out.” Ask questions and get a second opinion about the business offer or coaching program from someone who has your best interests in mind.
  • Do some research. Check with your state attorney general for complaints. If you don’t find any complaints it doesn’t guarantee that a company is honest, but complaints might tip you off to possible problems.
  • Read success stories and testimonials with skepticism. Glowing stories of success could be fake or misleading, and positive online reviews may have come from made-up profiles.

Have you spotted a business you think is a coaching scam? Tell the FTC at ReportFraud.ftc.gov.

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