The U.S. Securities and Exchange Commission is warning investors and financial services firms about con-artists who may use the names of actual SEC employees to mislead potential victims.

The SEC said Monday that investors in the U.S. and other countries have been tricked into revealing private information, giving fraudsters access to their brokerage accounts, and even sending money and other assets to imposters. In other instances, individuals have attempted to impersonate SEC examiners to gather confidential information from broker-dealers and investment advisers. Imposters have contacted firms by telephone, identified themselves as members of the SEC staff, and demanded immediate access to the firm’s records, sometimes claiming to be conducting an “emergency” examination.

Investors should be aware that the SEC never makes or endorses investment offers or participates in money transfers, nor does the SEC send emails asking for detailed personal information, or financial information such as PINs, it said. It also advises verifying the identity of someone claiming to be from the SEC.

“Investors should be especially wary, in these turbulent times, of any unsolicited investment offer, and should always verify the credentials of the individuals making the offer,” said Kristin Kaepplein, director of the SEC’s Office of Investor Education and Advocacy. “If contacted by someone claiming to represent the Securities and Exchange Commission and vouching for investments, it’s a scam. The SEC never endorses or participates in investment offers.”

IE