FINRA Joins with National Crime Prevention Council (NCPC) to Help Reduce Investment Fraud

In a May 7th., 2013 article from FINRA's website, it was reported that according to the FBI's latest Financial Crimes Report to the Public, investment fraud has increased by 52 percent since 2008. Unfortunately, investment fraud is largely underreported, and often targeted are retired citizens and seniors. 77 million baby boomers will be retiring over the next 20 years, and incidences of investment fraud are likely to increase further.

It was announced in response to this trend that the National Crime Prevention Council (NCPC) and the Financial Industry Regulatory Authority (FINRA) Investor Education Foundation are partnering to help reduce investment fraud among consumers. The two organizations will establish Investment Fraud Prevention Programs at the state level through NCPC's network of state crime prevention associations. The partnership will allow law enforcement officers to become more familiar with "Outsmarting Investment Fraud" tools, so that they are better equipped to address investment fraud in their communities. Investors will gain increased skills to prevent and report investment fraud.

The NCPC and the FINRA Foundation will be providing investment fraud educational materials free of charge to a vast network of law enforcement personnel and crime prevention practitioners across the nation. Working with partners, including AARP and the Consumer Fraud Research Group, the FINRA Foundation has conducted extensive research exploring why people fall prey to investment fraud and who is most often targeted. With the information gathered from its research, the Foundation has employed national, state, and grassroots partnerships to develop and distribute fraud prevention resources and conduct outreach to potential investors.

If you have experienced a financial loss due to your stockbroker or financial advisor’s recommendations, call Soreide Law Group for a free consultation with an attorney at: 888-760-6552.