SEC’s Anti-Fraud Public Service Campaign Warns Investors About Relationship Investment Scams
The SEC's Office of Investor Education and Advocacy launched a public service campaign to warn investors about relationship investment scams like 'pig butchering' that cause billions in annual losses.
The SEC's OIEA introduced a campaign featuring animated videos and resources to combat relationship investment scams, also known as romance or 'pig butchering' schemes. These frauds involve scammers building trust through social or romantic connections to manipulate victims into phony investments, resulting in billions of dollars lost annually. The initiative provides tools such as an investing quiz and educational articles to help investors identify red flags and report fraud.
The Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) has launched a new public service campaign to protect investors from relationship investment scams. These fraudulent schemes, which include romance scams and 'pig butchering,' involve scammers building trust through online or text-based connections to trick victims into fake investments. Such scams are devastating, contributing to billions of dollars in annual losses for investors. The campaign features animated videos titled 'Don’t Open the Door to Scammers' and 'Let’s Talk About Relationship Investment Scams,' alongside a new investing quiz. Acting Chairman Mark Uyeda and OIEA Director Lori Schock emphasized the importance of ignoring unsolicited messages and blocking unknown senders. Investors are encouraged to use resources on Investor.gov to recognize red flags and report suspicious activity to the SEC.
Extracted insights
- person Acting Chairman Mark Uyeda
- agency investor protection is a vital part of the sec’s mission
- person lori schock
- person relationship investment scams
- agency Securities and Exchange Commission
- Securities And Exchange Commission’s Office Of Investor Education And Advocacy unveiled anti‑fraud public service campaign
- Relationship Investment Scams involve “long con”
- Scammers reach out online or through text messages
- Acting Chairman Mark Uyeda said investor protection is a vital part of the SEC’s mission
- Lori Schock said “Don’t respond.”
The Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) today unveiled its anti-fraud public service campaign, which warns investors about the devastating impact relationship investment scams can have on their financial future. Relationship investment scams typically involve a “long con” in which scammers reach out online or through text messages, attempting to build trust through friendship or a romantic connection to convince someone to put money into phony investments. They are referred to by various names including romance scams, financial grooming scams, and “pig butchering” scams. The SEC’s public service campaign features two animated videos ‒ ”Don’t Open the Door to Scammers” and “Let’s Talk About Relationship Investment Scams” ‒ and a resource page about how relationship investment scams work, what investors should look out for, and how investors can protect themselves and others. Key takeaways for investors: Ignore messages from anyone they don’t know and consider blocking or deleting them. Be wary of unsolicited investment opportunities, no matter how much they trust the person. If they suspect they may be caught up in a scam, stop communication with the individuals immediately, and do not give them any more money. Report the scam to the SEC. “Investor protection is a vital part of the SEC’s mission. These kinds of frauds can be devastating and cause investors to lose billions of dollars every year,” said Acting Chairman Mark Uyeda. “I encourage investors to utilize the resources on our investor education website, Investor.gov, to learn how to spot and avoid fraud to help protect their hard-earned money and life savings.” “If you receive an email or text message from a person, number, or email address you don’t know or recognize, it’s a red flag of fraud — especially if the message is vaguely worded or appears aimed at someone else,” said Lori Schock, Director of the SEC’s OIEA. “Don’t respond. Instead, ignore, block or delete these senders from your phone or messaging app.” In addition to the public service campaign videos and resources, there is an investing quiz, which focuses on these kinds of scams and a new article by Director Schock, entitled “Relationship Investment Scams – Starts With ‘Hello,’ But Could End With Saying ‘Goodbye’ to Your Money.”
The Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) today unveiled its anti-fraud public service campaign, which warns investors about the devastating impact relationship investment scams can have on their financial future. Relationship investment scams typically involve a “long con” in which scammers reach out online or through text messages, attempting to build trust through friendship or a romantic connection to convince someone to put money into phony investments. They are referred to by various names including romance scams, financial grooming scams, and “pig butchering” scams. The SEC’s public service campaign features two animated videos ‒ ”Don’t Open the Door to Scammers” and “Let’s Talk About Relationship Investment Scams” ‒ and a resource page about how relationship investment scams work, what investors should look out for, and how investors can protect themselves and others. Key takeaways for investors: Ignore messages from anyone they don’t know and consider blocking or deleting them. Be wary of unsolicited investment opportunities, no matter how much they trust the person. If they suspect they may be caught up in a scam, stop communication with the individuals immediately, and do not give them any more money. Report the scam to the SEC. “Investor protection is a vital part of the SEC’s mission. These kinds of frauds can be devastating and cause investors to lose billions of dollars every year,” said Acting Chairman Mark Uyeda. “I encourage investors to utilize the resources on our investor education website, Investor.gov, to learn how to spot and avoid fraud to help protect their hard-earned money and life savings.” “If you receive an email or text message from a person, number, or email address you don’t know or recognize, it’s a red flag of fraud — especially if the message is vaguely worded or appears aimed at someone else,” said Lori Schock, Director of the SEC’s OIEA. “Don’t respond. Instead, ignore, block or delete these senders from your phone or messaging app.” In addition to the public service campaign videos and resources, there is an investing quiz, which focuses on these kinds of scams and a new article by Director Schock, entitled “Relationship Investment Scams – Starts With ‘Hello,’ But Could End With Saying ‘Goodbye’ to Your Money.”