Investment scams and what to know

Investment scams and what to know

Because you might be planning for retirement, several investment scams have targeted individuals looking to safeguard their cash.

From pyramid schemes, like the one that made Bernie Madoff infamous, to stories of a Nigerian prince looking for a partner to claim inheritance money, investment schemes have long been a successful way to take advantage of you.

How to avoid becoming a victim:

  • Use www.BrokerCheck.finra.org to check if a broker is a licensed or if someone has complained about them.
  • Read about and understand any investment before you give someone your money. Ask for information in writing. Use the EDGAR database (www.sec.gov/edgar/searchedgar/webusers.htm) to research investments and investment companies.
  • Get the name and company information of the salesperson offering an investment. Research the salesperson and the company before you decide to invest.

DuTrac provides the latest fraud protection tools and services, from text alerts to chip-enhanced technology.

If you feel you may have been the victim of fraud, don’t hesitate to contact our Fraud Specialist at fraud@dutrac.org or visit any DuTrac location.

All DuTrac offices will be closed Wednesday, June 19, for Juneteenth.

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Due to inclement weather, all DuTrac branches will close at 1:00 PM today, January 9. Online banking, AccessLine, ATMs and our app are available 24/7 for your convenience.