Chances are you or someone you know has received an unsolicited and sketchy phone call about how to get rid of student loans, a great deal on health care benefits, or some alleged banking problem that you supposedly need to take care of immediately. Hopefully, you quickly identified it as a scam and hung up. But even those who think they can spot a fraud from a mile away need to keep up their guard, especially now.
Knowing that some people might be desperate to make up for income lost as a result of the pandemic, fraudsters are working overtime to target and try to steal your hard-earned money through securities fraud.
The SEC recently collaborated with the Federal Trade Commission on Operation Income Illusion to educate America’s investors about the most recent frauds we’re seeing and how to spot them. As part of the initiative, the SEC’s Office of Investor Education and Advocacy issued an Investor Alert with information to arm yourself against investment fraud.
Please help us put an end to investment fraud by sharing these tips with friends and family. It might help one of them avoid becoming a fraudster’s next victim.
Modified: Jan. 30, 2021