Are You a Victim to Investment Fraud? Take 6 Steps to Recovery

Investment schemes are all around us and we’ve heard a lot of them. They’re that infomercial saying “double your income by using this new financial strategy”, “we’ve got a top secret insider tip”, or the “hey, do you want to get rich quick?”. At first glance, they sound great and so we invest with the best intentions to only be blindsided soon afterward. It’s sad to say, but many Americans fall victim to these schemes and lose not only their hard earned money, but their pride, and dignity. While investment fraud can cause havoc in your financial life, it’s possible to bounce back from this situation. Below we have created an infographic to assist you with the 6 steps to take if you’ve been scammed by an investment fraud. 

1. Write an Investment Fraud List: Create an excel sheet that houses all the following information:
   • Perpetrator’s name, phone numbers, mailing addresses, email addresses, and website addresses
   • Any regulatory registration numbers
   • A timeline of events
   • A police report
   • Documentation of the fraudulent activity
   • The most recent credit report from all three credit reporting companies.
2. Know Your Rights: It’s important to know your rights as a victim on the federal and state level. To understand what your rights are on the federal side, the United States Department of Justice’s Office has a detailed document of your rights. On the more local level the National Association of Attorneys General (NAAG) has your state rights. 
3. Report the Activity to Regulators: To ensure your activity is reported and you receive support from regulators you have to report any issues you have. By reporting it you can hopefully help prevent fraudulent individual or firms from victimizing someone else. These are the regulators you need to report the activity to:
4. Report the Activity to Law Enforcement: After you report the activity to the regulators, make sure you contact the proper authorities to start the recovery and investigation process. You should contact the following:
5. Consider Your Options: Even though you may still be feeling angry after being taken advantage of, take the time to find out if it’s possible to recover your loss assets, and if so, what are the legitimate methods to recover your losses.
6. Follow-Up: Review the steps you have taken and after 30 days, follow up with your accounts at the agencies that are helping you through this situation.