SEC Issues Government Impostor Investor Alert


Government Impostor Scam Artists

In an increasingly hi-tech world, fraudsters are forced to be more creative than ever. This time, however, their tactic is counterintuitive and low-tech. In other words, the average investor doesn’t see it coming. The current scam involves the fraudster impersonating a Securities and Exchange Commission employee. The ploy, according to the SEC, involves a government impostor attempting to con investors into revealing sensitive account information and remitting monetary payments.

In an effort to protect the public, the Securities and Exchange Commission has issued an Investor Alert addressing the threat. The correspondence clarifies that the SEC does not contact investors to confirm trades, set up trading accounts, or record the details of trades. Furthermore, the SEC alert clarifies that it does not endorse specific firms, issuers, products, securities, professional credentials, services, or individuals.

Unflinching Fraudulent Pitch

As an illustration, here is an excerpt from an actual imposter making a fraudulent pitch.

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