March Cyber Tip

 

The SEC’s Office of Investor Education and Advocacy has created www.investor.gov, which is an online resource to help educate and protect investors. They routinely post Investor Alerts and Bulletins which contain valuable information. An Alert was posted on January 25, 2024, titled “Artificial Intelligence (AI) and Investment Fraud: Investor Alert”. This Alert was issued jointly by the SEC, North American Securities Administrators Association (NASAA) and the Financial Industry Regulatory Authority (FINRA).

Some highlights:

·       AI is still new and has been known to generate false information.

·       AI cannot guarantee any results.

·       Fraudsters are using AI to impersonate family members, SEC staff and other government officials.

·       AI is being used to produce websites that promote false investments.

·       Be cautious when investing in companies that are AI-focused. Fraudsters often use the hype around emerging technology to defraud investors. They use high-pressure sales tactics, claims of guaranteed results with little or no risk and celebrity endorsements.

·       Do your own research to confirm any information you are relying on for your investment decisions.

·       Go to www.investor.gov for more information.

 

 

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Investment advisory services provided by Lantz Financial, LLC, an SEC registered investment adviser.

 

Non-investment topics discussed are for informational purposes only and should not be considered legal, tax or cybersecurity advice. Individuals should consult with their own legal, tax or cybersecurity expert concerning their own specific situation.