How to spot scammers posing as stock brokers...
Scamsters as stock brokers on the Web...
Scammers are now posing as stock brokers with
authentic-looking websites that include the name and logo of
a well-known brokerage firm, but the site is at a different
Web address (URL).
These con artist 'stock brokers' use the firm's reputation
to get clients, either by phone, email or via other forms of
Internet marketing.
However, after the unsuspecting investors wire funds to open
their accounts, they discover that their cash -- and the
stock brokers -- are long gone.
Another variation on this scam: phony stock broker offers to
buy a hard-to-sell security at a great price, but the
shareholder is asked to make a 'good faith' deposit prior to
the sale.
Before you get involved with any online or email-based
stock brokers, check them out first through the North
American Securities Administrators Association. You can call
them at 202-737-0900, or find them online (click on 'Find
Regulator' on the left nav bar):
==> http://www.nasaa.org
This article on phony stock brokers was originally published
in Internet
ScamBusters issue #76. Click on the link to see
the articles on topics other than con artists posing as
stock brokers in this issue.
