UFO Investor Alert

News Articles • February 08, 2019 • by: FSC • [Download Document]

The Financial Services Commission ("FSC") issues
this investor alert to warn the public of the risks associ­ ated in the conduct of transactions and
other dealings with unregulated financial organizations ("UFOs"). There is recent proliferation of
'investment-type' schemes making the rounds, mainly through social media. While social media can
provide many benefits for investors, it also presents opportunities for fraudsters. Social Media
gives fraudsters easy access to many different people at a relatively low cost. It is easy to
create a site, account, email, direct message, or webpage that looks and feels legitimate - and
that feeling of legitimacy gives criminals a better chance to convince you to send them your money.