SEC Issues Tips To Help Mainstreet Investors Avoid Scams
SEC Issues Tips To Help Mainstreet Investors Avoid Scams
On October 10, 2019, the Securities and Exchange Commission’s (“SEC”) Office of Investor Education and Advocacy and Retail Strategy Task Force issued an investor alert and bulletin (“Investor Bulletin”) titled, “Don’t Fall for an Investment Scam – Investor Alert.” The SEC issued several tips including the following: (1) avoid get rich quick schemes; (2) check the background of those selling or offering you an investment; and (3) look out for common tricks used by con artists to attract investors, such as fake testimonials or a sense of urgency. The SEC’s Investor Bulletin also includes several videos to show actual examples of strategies scammers use to lure in investors. A common theme in the SEC’s advice is that “[i]f it seems too good to be true, it probably is.”
The full Investor Bulletin is linked below:
https://www.sec.gov/oiea/investor-alerts-and-bulletins/ia_dontfallscam
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