CFTC issues customer advisory on fraud | TheFencePost.com

CFTC issues customer advisory on fraud

The Commodity Futures Trading Commission today issued a customer advisory informing the public to be on alert for frauds seeking to profit from recent market volatility related to the COVID-19 (coronavirus) pandemic.

“Fraudsters commonly use major news events, such as the spread of COVID-19, to add credibility to their cons or manipulate emotions,” the advisory said. “You can better protect yourself by learning to recognize common mental biases that everyone has, as well as common fraud tactics — and by taking a few preventative steps. Reporting frauds you encounter can also help protect others during these challenging times.”

“During this period of market volatility, we want to ensure the public has important information to help detect and stop fraud,” said CFTC Chief Communications Officer and Director of Public Affairs Michael Short.

“We will aggressively pursue misconduct in our markets tied to the impact of the coronavirus pandemic,” added CFTC Director of Enforcement James McDonald. “There is never an appropriate time to prey on innocent people’s fears.”

Support Local Journalism


For more information, go to https://www.cftc.gov/coronavirus.


Support Local Journalism

Readers like you make the Fence Post’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.

 


Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.