NYC Comptroller's Office Community Action Center

CONSUMER ALERTS

Protect yourself from investment fraud

It’s easy to spot a “too good to be true” get-rich-quick scheme. What’s harder to recognize is an investment that sounds reasonable and legitimate, but is actually a scam. That’s why the Federal Citizen Information Center (FCIC) and the U.S. Securities and Exchange Commission (SEC) have put together Fraud Protection for Seniors, a free package of publications designed to help you make wise investments with the money that you’ve earned and saved over the years. The information is especially vital is these increasingly tough economic times.

     One of the brochures in the package, Fighting Fraud 101–Smart Tips for Older Investors, has smart tips for senior investors. Protect your retirement and your savings by reading their list of tactics commonly used by fraudsters. Don’t be swayed by these masters of persuasion and their tales, which often seem like sound investments.

      Unsure whether a marketer’s pitch is legitimate? Use the package’s tips for protecting yourself: Ask questions, check out the investment, and talk to someone first. To help decrease the number of pitches you get, Fraud Protection for Seniors explains how to get your name taken off solicitation lists and telemarketing rosters.

For more advice on investing wisely, consult the package’s other brochure, Questions You Should Ask About Your Investments. Get an outline of questions to pose, broken down by investment type. Find out what you need to consider when choosing an investment adviser, questions to ask prospective investment brokers, and steps you can take to rectify broker-related problems.

     Investing can be daunting, but the Fraud Protection for Seniors package can help ease some of your concerns. Ordering this free package of publications is easy:

Send your name and address to Fraud Protection for Seniors, Pueblo, Colorado 81009;

Visit www.pueblo.gsa.gov/rc/n78fraudprotection.htm to place your order online or to read or print these and hundreds of other Federal publications for free;

Or call toll-free 1 (888) 8 PUEBLO. That’s 1 (888) 878-3256, weekdays, 8 a.m. to 8 p.m. Eastern Standard Time, and ask for the Fraud Protection for Seniors package.

Get even more information and take advantage of online government resources at www.USA.gov and www.GobiernoUSA.gov—your official English and Spanish web portals to the Federal government.