China Banking and Insurance Regulatory Commission: Beware of financial fraud in investment and housing pension.

Recently, some lawless elements have made false propaganda in the name of providing for the aged by investing and providing for the aged by housing, the essence of which is to illegally absorb social funds, disrupt the financial order and infringe upon the legitimate rights and interests of consumers. The Consumer Protection Bureau of China Banking and Insurance Regulatory Commission, China issued the third risk warning in 221 to remind consumers to raise their awareness of risk prevention, stay away from illegal financial activities and protect their rights and interests.

one of the methods: defrauding pension money in the name of investment in pension

some lawless elements illegally raise funds from elderly consumers in the name of investment in pension, promising high interest rate returns and providing services such as reserving pension beds and booking pension rooms.

Grasp the characteristics of the elderly and design a scam. Criminals often appear in places where the elderly gather, such as parks, supermarkets, communities, etc., under the banner of investing in old-age care and selling old-age products, and constantly instill concepts such as financial old-age care and new investment into the elderly.

Take advantage of the kindness of Xiao En and Xiao Hui Bo to reduce the vigilance of the elderly. By organizing tours, visits, lectures, giving gifts and other means, criminals deliberately gain the trust and goodwill of the elderly. After the elderly have lowered their vigilance, they take the opportunity to kidnap and falsely publicize their morality, with the ultimate goal of defrauding the elderly of their money.

throw out high-return promises to attract the elderly. Criminals used to promise high dividends, guarantee high interest rates, and book old-age services to trick the elderly into investing in so-called old-age services, with various fees, such as VIP card, membership fee and prepayment. These institutions are unable to provide the promised pension services. After obtaining funds, their operation and flow are opaque, and there is a high risk of fund-raising and running away. Some elderly people's pension funds are defrauded by criminals.

the second method: defrauding the funds of the elderly in the name of housing for the elderly

What criminals call "housing for the elderly" is false. Regular housing-based pension refers to the reverse mortgage pension insurance for the elderly, which is an innovative commercial pension insurance that combines housing mortgage with lifelong pension annuity insurance. The elderly who own the complete legal property right of the house will mortgage the house to the insurance company, continue to have the right of possession, use, income and disposal with the consent of the mortgagee (insurance company), and receive the pension according to the agreed conditions until their death; After the death of the elderly, the insurance company has the right to dispose of the mortgaged property, and the proceeds from the disposal will be used to pay the related expenses of the old-age insurance first. At present, this kind of insurance is still in the pilot stage and relatively small in China. It has high entry threshold, complex legal relationship and many risk factors, and it is very strict with the business development and sales management of institutions.

The so-called "housing for the aged" by criminals is extremely risky and has hidden traps. In the name of national policy, criminals cover up the essence of illegal fund-raising, trick the elderly into applying for real estate mortgage under the banner of "providing for the elderly with housing" and having high returns, and then use the borrowed money to buy the wealth management products recommended by them. This "mortgage-loan-financial management" mode has many operational processes, chaotic participants and high investment risk, which is not in line with the risk tolerance of most elderly people. And the so-called "wealth management products" are likely to be false, and the borrowed money eventually went to the pockets of illegal institutions.

Using the name of "providing for the elderly with housing" to trick the elderly into mortgaging property and defrauding funds. The "housing for the aged" claimed by lawless elements has nothing to do with the housing reverse mortgage pension insurance piloted by the state, but it is just a means to promote illegal fund-raising activities under the guise of national policies. In fact, it does not have the corresponding qualifications and capabilities at all, and it is often a Ponzi scheme of "returning the old with the new". Some participants didn't even know that their property was mortgaged, and eventually they lost their house and were still burdened with loans.

The above-mentioned behaviors infringe upon the legitimate rights and interests of consumers and have a bad influence. The Consumer Protection Bureau of China Banking and Insurance Regulatory Commission, China hereby reminds consumers to keep the following two things in mind and pay attention.

1. Remember that investment is risky, and it is not appropriate to risk entering the game with gambling mentality. Consumers should establish the concept of rational investment and financial management, do not easily believe the so-called "no loss" and "no risk, high income" propaganda, and do not invest in projects with unclear business and unknown risks. If the promised yield of wealth management products exceeds 6%, it will be questioned. If it exceeds 8%, it will be dangerous. If it exceeds 1%, it will be prepared to lose all the principal. "Guaranteed capital and high returns" is financial fraud. Remember that investment is risky, and don't be tempted to invest impulsively by high returns.

second, remember to choose a formal institution. The purchase of financial investment products should be combined with their own risk tolerance, and formal institutions and channels should be selected. It is suggested that consumers, especially the elderly, consult professionals of formal financial institutions and discuss with their families before purchasing investment and wealth management products, and make necessary judgments and understanding on the authenticity and legality of investment activities, so as to prevent fraud by criminals and guard against the crazy marketing behavior of informal institutions.

Third, beware of fund-raising fraud. Fund-raising fraud has the characteristics of "pass the parcel" and "Ponzi scheme", which is often based on returning the old with the new, lacking actual business support and profit sources, and there is no project matching its promised return, which is prone to risks such as running away from the money and breaking the capital chain. Don't be confused by the rhetoric of "guaranteed capital and high interest rate" and "guaranteed income".

fourth, pay attention to protecting personal information. Enhance personal information security awareness in daily life, treat the contract signing process with caution, and do not sign blank contracts. Do not provide important information such as ID card, bank card number, password and verification code at will to prevent fraudulent use, abuse or illegal use. If you find suspected illegal financial activities, you can report the case to the public security organ or report the situation to the relevant financial supervision department in time.