The Arizona Corporation Commission (ACC) is using the first week of October, Senior Safety Week, to remind residents to be on the lookout for fraudulent investment schemes.
The ACC Securities Division and other regulators around the United States are reminding investors to make informed decisions before investing. Scam artists prey on those who do not ask many questions or who do not take the time to learn how a particular investment works. The team regulators estimate that one in five investors over age 65 have been the victim of a financial fraud.
The ACC Securities Division reminds investors of the following four Cs:
- Consider the risk factors: collect materials about the investment and read them. The documentation should provide enough information to verify the details of the investment.
- Compare the investment to others in terms of cost and profitability.
- Consult with someone you trust regarding financial matters; choose a person who is not financially involved in the investment you are considering.
- Contact a securities regulator to be sure the company or sales representative is authorized to sell securities or whether there have been complaints regarding their services.
If unsure about whether a proposed investment is legitimate, contact the Securities Division’s investigator on duty at 602-542-0662 or via email at email@example.com.