Attorney General's Office Warns Investors Against Scammers Looking To Profit Off Ukraine Conflict
BALTIMORE (WJZ) -- The Securities Division of the Office of the Attorney General on Wednesday warned investors and securities firms to watch out for bad actors looking to profit off of the conflict in Ukraine.
During times of international conflict there is an increased threat of cyber-attacks and potential investment scams, officials said.
"Difficult times can bring out the best in people, but as regulators we know from experience that there are bad actors looking to exploit crises to perpetrate scams on unsuspecting investors," said Attorney General Brian Frosh. "Investors and firms alike should make sure they are taking the steps necessary to safeguard financial information and are on the lookout for potential investment scams."
The Securities Division offered these three tips for investors to protect themselves:
- Be skeptical of investment opportunities linked to the headlines. Delete unsolicited messages touting investments with low risk but guaranteed returns.
- Do your homework. Investigate both the background and the firm offering the investment and the investment itself.
- Monitor accounts regularly and take steps to protect your financial data.
The office said to check with the Securities Division to determine if anyone reaching out is registered to sell investments and if the investment has been registered. Consult with your financial professional before making decisions to sell any of your investments.
Investors with questions can contact the Securities Division at 410-576-6360 or securities@oag.state.md.us.
