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TDCI Shares 10 Basic Securities Fraud Prevention Tips

Friday, August 18, 2017 | 3:51pm

NASHVILLE – The Tennessee Department of Commerce & Insurance’s (TDCI) Securities Division wants to promote a healthier and safer investment climate in Tennessee by educating citizens of all ages on how to recognize and avoid tactics aimed at separating you from your savings.

“Unfortunately, investment fraud cases that drain the savings of hardworking investors are not uncommon,” said TDCI Assistant Commissioner for Securities Frank Borger-Gilligan. “Becoming an informed and skeptical investor is the best tool to prevent this type of fraud. We urge Tennesseans to utilize the basic steps outlined below to help safeguard their investments from con artists.”

The TDCI Securities Division offers the following 10 securities fraud prevention tips to help Tennessee’s protect their investments:

  • Check the licensing/registration of the seller and product offered by contacting the Tennessee Securities Division.
  • Check to see if any enforcement action has been taken against the person offering the investment opportunity.
  • Check with someone you know and trust before investing any money.
  • Get written information (but be aware that professional looking information could be produced by a con artist).
  • Ask lots of questions.
  • Know how much risk you are willing to take with your investment; understand how much risk you should be taking given your age, family circumstances and other factors.
  • Take your time; don’t allow anyone to rush your decision-making process.
  • Never accept a verbal contract.
  • Never sign anything before reading it carefully and understanding it.
  • If you are suspicious about an investment offer, contact the Tennessee Securities Division.

Additional investor education information is also available through the TDCI Securities Division website: https://www.tn.gov/commerce/section/securities.

If you suspect that you might be a victim of securities or insurance fraud, or if you would like to file a complaint or speak with an investigator, please contact the Tennessee Securities Division – Financial Services Investigations Unit at (615) 741-5900. To file a complaint online, visit /commerce/article/securities-file-a-complaint.

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