An Internet scam that lures would-be foreign investors into fraudulent schemes by posing as U.S. government regulators and Internet sites has prompted a warning from the North American Securities Administrators Association (NASAA), which warns investors are losing billions every year. The NASAA highlighted an uptick in phony correspondence used by criminals to gain access, information and cash.
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Latest Online Scam Prompts Warning
Posted by: Jay Lyman July 29, 2005 12:51 PMAn Internet scam that lures would-be foreign investors into fraudulent schemes by posing as U.S. government regulators and Internet sites has prompted a warning from the North American Securities Administrators Association (NASAA), which warns investors are losing billions every year. The NASAA highlighted an uptick in phony correspondence used by criminals to gain access, information and cash.