Retirement and investment fraud
Investment Scams Targeting Retirees
A friendly expert, a new online friend or a free seminar offers a “can’t-lose” way to grow your savings. Investment scams are one of the largest sources of losses for adults 60 and over.
Warning signs
- Guaranteed high returns with little or no risk
- Pressure to act now before the “opportunity” is gone
- An app or website shows your money growing, but you can’t withdraw it, or must pay a “fee” or “tax” first
- Someone you met online, by text or on social media offers to coach you
- Requests to move your retirement savings into cryptocurrency, gold or a private deal
What to do
- Don’t move savings because of a call, text, seminar or online friend.
- Check the seller on FINRA BrokerCheck (brokercheck.finra.org) before you invest.
- Talk to someone you trust, like a family member or your own long-time financial adviser.
- Never pay a fee to get your own money out. That’s a sign of a scam.
- If you already paid or shared information, see what to do right now.
Talk to us before you pay, click or share anything
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