The North American Securities Administrators Association ("NASAA") urged investors to be aware of online investment schemes involving precious metals, cryptocurrencies, promissory notes and foreign exchange markets.
In a survey of state and provincial enforcement officials, NASAA found that schemes involving such products were identified as the primary threat facing investors in 2021. Additionally, the results of the survey predicted that bad actors will continue to carry out COVID-19 related schemes to illegally sell securities.
NASAA President and West Virginia Senior Deputy Securities Commissioner Lisa A. Hopkins recommended that investors always ensure that salespersons and investments are properly licensed and registered.
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