Want To Help People Affected By The California Wildfires? SEC Says Beware Of These Scams | Global News Avenue

After California wildfires devastate communities, homes and businesses, individuals looking to help those affected by the devastation should be wary of possible scams.

this Securities and Exchange Commission An investor alert was issued this week, warning that fraudsters may use natural disasters such as wildfires to “lure victims into investment scams.” These scams may also target affected individuals who receive funds from insurance companies.

There are many types of investment scams. Some encourage people to invest Pump and sell plan–Some people are encouraged to invest in a company that can help with recovery, driving up share prices.

Other scams may prompt people to make investments that purportedly bring profits to investors and help disaster victims.

The SEC advises that if someone recommends an investment related to a natural disaster virtually, over the phone or in person, to use caution and do some research before investing. The committee provides a Online search tools There you can check if someone is a registered financial professional.