State Department of Financial Institutions Participates in International Task Force for Investment Fraud

The Washington State Department of Financial Institutions (DFI) has joined the international task force concentrated on COVID-19 investment fraud. The effort is coordinated by the North American Securities Administrators Association (NASAA).

"COVID is something we've seen in the past. Anything that captures headlines can be used by somebody with not the best of intentions to try and attract people and take their money from them," said Bill Beatty, director of securities.

Beatty noted this type of investment scamming activity has been seen in the past with hurricanes or any form of disaster relief.

"People should be on the lookout for things that seem really too good to be true," said Beatty. "Really high rates of return, promises of no risk, things like that."

Folks that have questions about investment offers presented can reach out to the DFI to investigate.