If you get an email or phone call from someone claiming to work for the Securities and Exchange Commission (SEC) and offering their help, it is likely a scam.
The SEC issued a warning Wednesday about investment schemes and other frauds being committed by agency impersonators. The SEC’s Office of Investor Education and Advocacy (OIEA) announced investment schemes where fraudsters claim to be SEC employees helping investors buy stock or confirm trades. The alert warns that these scammers are out to steal money, and you should not send any funds or provide account information.
“The SEC does not contact investors to confirm trades, set up trading accounts, or record the details of trades,” the alert said. “Any correspondence you receive purportedly from the SEC confirming a specific securities transaction is a red flag of fraud.”
The agency also posted an audio recording of an actual scammer making a fraudulent pitch.
If you are unsure whether correspondence claiming to be from the SEC is authentic, contact OIEA at 800-732-0330 or Help@SEC.gov.
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