”Finfluencers who share tips on investments and personal finance in social media have gained increasingly greater influence. But there are several pitfalls and you who uncritically follow the advice can lose a lot of money. With this initiative, we want to make consumers more aware of what they encounter in their feeds”, says Moa Langemark, consumer protection economist at FI in a press release.
The information campaign, which will be visible in social media, is intended to make consumers aware of the risks of uncritically following investment advice that is tipped in social media.
The campaign also contains information for financial influencers, "finfluencers", on how to communicate their tips and advice and follow the rules that exist for financial advice.
FI has compiled a list with five points that are important to consider for those who follow "finfluencers". The five tips are: Distinguish between facts and opinions, be suspicious of promises of quick money, trust your own judgment - not just the number of followers, be aware of advertising and watch out for scammers.
