Broker Check

Beware Online Financial Fraud

September 09, 2020

A Cyber Security Intelligence post from Great Britain states their National Cyber Security Center (NCSC) has taken down over 300,000 malicious URLs linked to fake celebrity endorsed investment schemes in four months. Criminals use deepfake technology to impersonate celebrities promoting fraudulent investments. Other scams ask for donations to fake charities. Losses from these scams have exceeded $6.17 million. We assume similar activities are taking place in the United States.

If you see a celebrity endorsement online or in an email, be sure you are dealing with a legitimate organization before responding. If you want to invest, use a reputable financial advisor such as Beacon Financial.