FINRA Investor News

September 6, 2005
 

Investor Alert

 

Well-Traveled Fraud—Advance-Fee Scams Target Non-U.S. Investors Using Fake Regulator Web Sites and False Broker Identities


NASD is issuing this Alert to warn non-U.S. investors that scammers are using fraud—including phony "regulator" Web sites and fake identities—to separate you from your money.


The scam generally begins with a phone call offering to pay you an enticingly high price to buy shares of stock you own that are virtually worthless. To build legitimacy, the caller refers you to a phony Web site that contains investor protection information, or poses as a legitimate securities professional or regulator.


To take the "deal," you are asked to send a fee in advance to pay for their services. Once your money is sent, you never see it—or any of the money from the deal—again.


Read the Alert.

 

 

Consumer Corner

 

Opt-Out of Credit Card Offers


Did you know you can put a stop to unwanted credit card offers flooding your mailbox? You can "opt-out," which prevents consumer credit reporting companies from using your credit file information for pre-approved offers of credit or insurance. Call (888) 567-8688 or visit www.optoutprescreen.com.

 


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News Dispatch

 

NASD Issues Alert on Financial Scams Targeting Non-U.S. Investors


NASD today warned non-U.S. investors about sophisticated investment scams that use phony "regulator" Web sites and fake broker identities to prey on investors unfamiliar with U.S. securities products, markets and regulations. These scams target individuals in countries such as Australia, New Zealand, South Africa and elsewhere, who have lost money in a previous investment deal and are eager to reverse their losses.


Read the News Release.

 

 

Smart Investing

 

College Savings Tips


There are many ways to save for college, from U.S. savings bonds, to Education Savings Accounts to 529 pre-paid and college savings plans. Here are some tips to help you choose the best college savings option for your family.

 

 

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Past Issues of Investor News Available

 

In response to numerous requests, previous issues of Investor News are now available on our Web site.