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If you get email claiming to be from the Regulatory Compliance Commission, the International Compliance Commission, the International Regulatory Commission, the International Exchange Regulatory Commission, the International Shareholder Protection Division, or some similar sounding agency, offering you an investment opportunity, the best investment you can make is in the energy to hit ‘delete’.
This new scam making the rounds is claiming to originate with a fake regulatory agency (the above are some of the names which have appeared in the scam), linking to websites and vouching for certain “brokers” or otherwise offering to the recipient a deal on stock.
However, according to American Securities Administrators Association (NASAA) president and New Jersey Securities Bureau chief Franklin Widmann, “These Web sites offer nothing more than fancy window-dressing to lure investors into buying worthless securities from unlicensed stockbrokers.”
“The U.S. securities markets are known around the world for being among the safest and most fair, due in no small part to the rigorous and efficient regulatory systems in place here. Con artists are trying to cash in on our good name abroad to lure unsuspecting investors into risky penny stocks and advance fee schemes,” explained Widmann.
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