CFTC Issues Social Media Customer Protection Advisory

CFTC Issues Social Media Customer Protection Advisory

Washington, DC (STL.News) — The Commodity Futures Trading Commission (CFTC) yesterday issued, “There’s Nothing to Like about Scammers on Social Media,” a Customer Protection Advisory that warns customers to beware of and avoid unregistered brokers and advisers, as well as fake testimonials and so-called trading experts on social media platforms.  Fraud offenders can create many online profiles or anonymous identities, and use them in a coordinated way to lure people into schemes.

“As the technology utilized by consumers has evolved over time, so too have the tools that scammers use to target potential victims,” said Erica Elliott Richardson, CFTC Director of the Office of External Affairs. 

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