Stock Scams Go Social
The Securities and Exchange Commission (SEC) recently charged a man with trying to sell $500 billion worth of fake securities on social network LinkedIn.
- Be suspicious of unsolicited offers.
- The old rule about too good to be true still stands. Compare promised returns with well-known stock indexes. [Beware] of guaranteed returns.
- Tighten your privacy settings…. “Don’t you remember me from college?”
- Affinity fraud… preys on what you have in common, like ethnicity or religion.
If you’re a personal investor who [uses] the Internet, you may want to read these PDFs from the SEC on avoiding fraud and understanding your accounts.
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