Salem – The Oregon Division of Financial Regulation has joined an international
enforcement task force organized by the North American Securities Administrators
Association (NASAA) to investigate investment fraud during the COVID-19 outbreak.
“We are proud to join our colleagues in NASAA’s COVID-19 Enforcement Task
Force,” said Lou Savage, Division of Financial Regulation administrator. “COVID-19
investment schemes are a significant threat and fraudsters need to know that
our division is dedicated to protecting Oregonians from these scams.”
The division is a member of NASAA, the membership organization of state and
provincial securities regulators in the United States, Canada and Mexico. The
task force consists of securities regulators and was formed to identify and
stop potential threats to investors stemming from the COVID-19 outbreak. Task
force members investigate websites and social media posts that may be promoting
fraudulent offerings, investment fraud, and unregistered regulated activities.
A critical component of fighting fraud is investor awareness. To help investors
identify common telltale signs of possible investment fraud, the division recommends
asking three questions before making a new investment.
- Is the investment being offered with a guaranteed high return
with little or no risk?
All investments carry risk. Anyone who says their investment offer has no risk is lying.
- Is there a sense of urgency or limited availability surrounding the investment?
If someone offers you a “can’t miss” investment opportunity and pressures you to invest right now, just walk away.
- Is the person offering the investment, and the investment itself, properly licensed or registered?
You would not seek an unlicensed doctor or dentist; you should also avoid unregistered investment salespeople and products.
Investors who see or suspect they fell victim to COVID-19 related investment
scams can contact the division’s advocacy team at 888-877-4894 (toll-free)
or visit the division’s financial
services page .
Visit the division’s COVID-19
consumer page for more financial services information.
About DCBS: The Department of Consumer
and Business Services is Oregon's largest business regulatory and consumer
protection agency. For more information, visit www.dcbs.oregon.gov.
About Oregon DFR: The Division of Financial
Regulation is part of the Department of Consumer and Business Services, Oregon’s
largest business regulatory and consumer protection agency. Visit www.dcbs.oregon.gov and http://dfr.oregon.gov/Pages/index.aspx.