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Fighting Investment Fraud: Something For Every Investor

Posted: 1/21/2011

FINRA Investor Education Foundation President John Gannon.

(NAPSI) - Whenever it’s a gift- giving occasion and you find yourself wondering “What do I give the person who has everything?” your answer can be something both useful and surprising. With an educational documentary produced and distributed by the FINRA Investor Education Foundation, you can give the gift of fighting fraud.

“Tricks of the Trade: Outsmarting Investment Fraud” uncovers the tricks that cons use, includes stories from victims and offers advice from fraud and persuasion experts.

The hour-long documentary is a central part of an investor-focused, anti-fraud campaign. Together with AARP, the U.S. Securities and Exchange Commission, state securities regulators and other organizations, the Foundation presents its “ask and check” message across the United States. The campaign also recruits volunteer instructors, who share the Outsmarting Investment Fraud program and message in their communities.

“There are three things people need to keep in mind when it comes to investment fraud,” said Foundation President John Gannon. “First, if you have money-including equity in your home or retirement savings-you could become a target for cons. Second, if you know the persuasion tactics that cons use, it’s easier to spot and avoid fraud. And third, before making any investment, remember to always ask and check-ask if the seller and the investment are registered, and check the answers with the authorities.

“The documentary grew out of our presentations,” Gannon said. “We knew we couldn’t be everywhere, so we made the DVD and it’s really taken off.” People who attend presentations regularly ask for extra copies to share with friends and family, he said. The documentary is also airing on public television stations across the country and the Foundation fulfills many DVD orders online.

The documentary’s message, Gannon said, is especially relevant for someone nearing or in retirement. Cons often target this group because older workers have generally built up more assets than younger people have.

“Anyone could be a victim of investment fraud and everyone can play a role in fighting it. Frauds are often brought down by tips from conscientious investors,” Gannon said. “So the more investors know about spotting red flags and what to do when they suspect fraud, the more difficult it will be for fraudsters. And the better off all investors will be.”

You can order the free DVD from the Foundation’s fraud-fighting website, www.SaveAndInvest.org, or by calling (866) 973-4672.

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