Scam Alert --> Beware of Bogus Regulatory Websites
Recently the Barre Montpelier Times Argus reported on a
scam where fake online sites, which appear legitimate, gather information from investors who file a complaint about investment fraud or a stock that's underperformed.
According to Tanya Durkee, deputy Vermont securities commissioner, victims are often directed to the scammer's website
through phone or mail solicitations. Also, it's a new twist on the "advance fee scam," where the victim is required to pay a fee or upfront costs - or give personal account information - before getting their money back.
"You give them this information because the Web site looks for real, like you're really lodging a complaint, then they can use that information against you," Durkee said.
Durkee said investors can avoid becoming victims by calling their state Securities Division to determine whether any "regulator," "agency" or "securities firm" that approaches them is legitimate.
Investors should also be on the lookout for the following warning sign of a potential scam:
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