There are more than 21.3 million Veterans in the United States – that’s 21.3 million potential targets for fraud. Unfortunately, fraudsters like to try to gain the trust of a group of people with common backgrounds and interests. That’s why as a Veteran, they may zero in on you or your family and try to draw you into their fraudulent investment schemes. The fraudster may even be a Veteran or at least pretend to be.
Investment fraud comes in many shapes and sizes and fraudsters use various tactics to scam potential investors. Often, the fraudster pretends to be your friend, encourages you to get in on the “ground floor” of a new investment opportunity, promises huge returns and pressures you into buying right away. These are all red flags that should set off alarms. You can see examples of these kinds of fraud and how to avoid them by checking out the Securities and Exchange Commission’s (SEC) new public service videos. Bottom line – if it sounds too good to be true, it probably is!
Whether you’re a first time investor or a seasoned pro, the SEC has valuable information on ways to stay clear of con artists and their investment scams, and how to invest wisely and consider the costs and fees associated with investing. Learn more at Saving and Investing: A Roadmap to Your Financial Security Through Saving and Investing and take advantage of all of the free investor education tools and resources at Investor.gov, including our military page.
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