CROWDFUNDING: RISKS FOR INVESTORS
The article identifies the risks that investors face when participating in various types of crowdfunding: donation-based crowdfunding, rewards-based crowdfunding, lending-based and equity-based crowdfunding. The author indicates that the main risk for an investor of donation-based crowdfunding is the misuse of funds transferred to the recipient. The provisions of the legislation of the Republic of Belarus have been analyzed concerning investor's right to control the use of funds attracted by the recipient of donation-based crowdfunding. Risks for investors which are specific to rewards-based crowdfunding have been investigated. The attention is also focused on the possible problems associated with the implementation of lending-based and equity-based crowdfunding. The provisions of the legal acts of the Republic of Belarus are outlined, which must be taken into account by investors when implementing various types of crowdfunding. The author comes to the conclusion that the risks for investors in crowdfunding may be minimized by developing adequate legal regulation.