A Few Tips from the FBI

Pickett FBI

The Utah Valley Estate Planning Council recently had an FBI agent give a presentation on local trends in white collar crime and fraud.  Here are a few of his warning signs to look out for in any sales pitch or “opportunity.”  Most of these are familiar, but the scammers keep winning in spite of the same red flags:

  • The Scammer has no license to sell securities, insurance, or whatever he is selling (you can check most Utah licenses online here, and real estate professionals here)
  • Licensed professionals (attorneys or CPAs) advise against it
  • Promising a high rate of return
  • Lack of financial documents and transparency
  • Exploiting religion to gain trust
  • Do not invest in mine tailings, foreign lottery tickets, or give someone cash just because they gave you a check that hasn’t cleared yet
  • Do not pay anyone who says they are from the  FBI and wants to charge you for investigating your recent losses