The impacts of financial fraud are broad and can be devastating to those who experience them. Investment scams can have long-lasting consequences and result in the loss of one’s life savings.
Knowledge about scams and scammer methods is key in helping prevent losing money to fraud (Exposed to Scams, 2019). We partner with the FINRA Investor Education Foundation to offer Fighting Financial Fraud, an annual train-the-trainer program for BBBs throughout the U.S. that provides the knowledge, tools, and data they need to offer scam education workshops to individuals and small businesses in their communities.
More about our in-person workshops
Better Business Bureaus across the U.S. offer workshops as part of our national Fighting Financial Fraud program. BBBs provide workshops on Outsmarting Investment Fraud, Spot the Con, and The Red Flags of Fraud. These workshops are a hands-on, interactive way to learn more about financial fraud, how to spot scams and potential scammers, and how to ask questions and verify if an investment professional is registered.
Contact your local BBB to set up a workshop in your area; or for more information about this national effort, email Institute [at] IABBB.org
About FINRA Investor Education Foundation
We are proud to present this program in partnership with the FINRA Investor Education Foundation.
FINRA, the Financial Industry Regulatory Authority, is dedicated to investor protection and market integrity. It regulates one critical part of the securities industry — brokerage firms doing business with the public in the United States. FINRA believes investor education is often the best form of investor protection.
Established in 2003 by FINRA, the FINRA Investor Education Foundation empowers underserved Americans with the knowledge, skills and tools to make sound financial decisions throughout life. With easy-to-use tools and resources, the FINRA Foundation helps you make informed financial decisions — and arms you with the information you need to protect yourself from investment fraud.
FINRA and the FINRA Investor Education Foundation do not sell investment products, promote products or firms, or offer specific investment advice.
“If it sounds too good to be true, it probably is.” It’s great advice that is not always easy to follow.
Fraudsters are experts in getting you to believe in them and what they are selling. They are master manipulators and will often spend lots of time developing a relationship with you just to lower your defenses. Often with investment scams, the con artist will take time to get to know you—your interests, your family, and your goals for the future. They’ll use false promises to lure you in and make you believe they can help you “get rich quick” or even find an enticingly low-risk, high-return investment.
While these scammers are master chameleons and may change up their pitch, they use the same types of persuasion tactics we call the Red Flags of Fraud:
It’s important to remember that scammers play on your emotions and may rush you to a decision. Never take the bait. Take a moment to think before you act, and always verify an investment seller’s credentials to make sure they are registered with FINRA, the SEC and/or a state securities regulator.
Learn more about how to spot and avoid fraud, and check out the Fighting Fraud 101 brochure.
You work hard to earn money and invest for the future. Steer clear of fraud and other problems that stand in the way of financial security. Learn what to ask when approached to buy an investment, and how to check if both the seller and the product are registered. With very few exceptions, people who provide investment advice or sell investment products must be registered with FINRA, the SEC and/or state securities regulators. Always remember to “Ask and Check.”
Use FINRA’s exclusive BrokerCheck® tool below to make informed investment choices by looking up the background and experience of financial brokers, advisers and firms.
Canadian consumers have a similar resource for verifying registration. Check out the IIROC AdvisorReport.
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Have you or someone you know been a victim of an investment scam?
Report fraud to FINRA, the Financial Industry Regulatory Authority at www.finra.org/complaint, or call the FINRA Securities Helpline for Seniors at 844-57-HELPS (844-574-3577).
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We also hope you’ll consider sharing your story to help others on BBB Scam Tracker.