Scam alert

Nebraska State Capital

(KLZA)-- The Nebraska Department of Banking and finance is urging Nebraskans to beware of con artists seeking to capitalize on fear and uncertainty due to the ongoing developments related to the coronavirus situation and its impact on financial markets. 

Investors should be on the lookout for scam artists trying to use the market downturn and the coronavirus to scare investors into so-called “safer, guaranteed investments.”

Deputy Director April McHenry says if you have concerns about retirement accounts or investments, talk to your financial professional and avoid making decisions based on panic or fear.

 The NDBF says there are telltale signs of possible investment fraud.  First, is the investment offered with a guaranteed high return with little or no risk?  All investments carry risk that you may lose some or all of your money.

Second, is there a sense of urgency or limited availability surrounding the investment?  If the offer is legitimate, it will be there later.      

Third, is the person offering the investment, and the investment itself, properly licensed or registered? 

For more information about any investment matter, you can contact the NDBF”s Consumer Hotline toll free at 877-471-3445.   

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