Over the last few sections, we’ve been talking about all the various security issues that can come up when dealing with online investing. While most of the techniques used to scam investors online are similar to their offline analogues that have been used for decades, things can still be tricky, especially for those who don’t have much experience yet.
Security And Exchange Commission
We’ve already talked about a few of the things that you can do to help ensure that you remain safe from online investment scams, but there’s something else that all online investors should be well aware of. Investment scams and investment fraud are serious crimes in the eyes of the federal government. They have the potential to undermine the entire economy. As such, they are taken very seriously, and an entire organization was established to help protect real, honest investors from those who would defraud them. This organization is the Security and Exchange Commission, or the SEC.
If you ever encounter investment frauds online, or if you even suspect it of being perpetrated, then you should contact the SEC as soon as possible. There are two ways to do this. The first is to register a complaint online at their website: http://www.sec.gov/complaint.shtml, or to send actual copies of the scam emails or newsletters to enforcement@sec.gov via email.
Alternately, you can write to the organization’s physical address at: Securities and Exchange Commission, Office of Investor Education and Assistance, 450 Fifth Street, N.W., Washington, D.C. 20549-0213.
Give A Detailed Description
Whichever method of contact you choose, be sure to include as much information as you possibly can about the perpetrators of the scam. Tell how you became aware of the scam, which email address sent it to you, what message board you found it on, and so forth. As for your own personal details, these aren’t really necessary, but include what you feel is essential to investigating the case.
Next time around, we’ll conclude our talks on online investment scams.
See you next week for part 6 of Investment Scams.
Sean Rasmussen
The Bullhunters Guide
Universal Wealth Creation © 2004 – 2008
{ 4 comments… read them below or add one }
Thanks for that Sean, i will heed your warning.
Hi Sean,
Thanks for the tip on who to contact if we run across a scam. I think we all have a responsibility to report these things; especially if we get ripped off; so we can help stop the scam before someone else gets taken.
Thanks for the address Sean. It’s really good to have someone to contact if needs be.
If we report scams, then the perpetrators can be investigated and intervened sooner.
There will always be scams going on in one form or another. And, they can be perpetrated by the (seemingly) most respectable businessmen – as we have witnessed during this economic downturn.
Greed knows no boundaries – and is let lose when personal ethics and integrity play second fiddle to wealth gain – as distinct from wealth creation.
If you think of it, Sean could probably be a lot wealthier, if not for his personal standards of honesty and paying it forward. We can be grateful that he is as he is.