The Office of Financial Regulation (OFR) offered a reminder to Floridians this week to be aware of investment scams and top investor threats when making an investment decision.
The top threats for 2022 were determined by a survey of securities regulators conducted by the North American Securities Administrators Association (NASAA). The annual survey is designed to identify the most problematic products, practices, or schemes facing investors.
The following were cited most often by state and provincial securities regulators:
• Investments tied to cryptocurrencies and digital assets;
• Fraudulent promissory note offerings;
• Money scams offered through social media and internet investment offers; and
• Financial schemes connected to self-directed individual retirement accounts (IRA).
• OFR Commissioner Russell C. Weigel weighed in on financial scams this week.
“It is important that Floridians research the investment product and professional before making a decision. Knowledge is the best defense against becoming a victim of a scam. The Office of Financial Regulation is committed to protecting Floridians from financial scams, and equipping consumers with knowledge is one of the ways we are furthering that mission,” Weigel said.
Below are helpful tips to identify and avoid investment scams and threats:
Independently research the investment professional or company you plan to work with and ensure they are…
