University of Missouri Extension

Con Artists Prey on Volatile Markets

Are you worried about what the up and down investments are doing to your retirement savings or your children’s college funds? Volatile markets provide an even more fertile field for con men and scams. In uncertain times "con artists can appeal to both out fear and our greed," says Nancy Voight Crawford, president of the North American Securities Administrators Association. Conservative investors alarmed at a potential loss of years of savings are receptive to schemes which promise big profits and little risk. Aggressive investors are become equally vulnerable to false promises as they chase huge profits."  Missouri Attorney General Jay Nixon has been warning consumers that many of the traditional scams such as pyramid schemes , bogus work at home deals, guaranteed loans, credit repair etc. are proliferating on the Internet.   Practically anyone with a computer is a potential victim". Your best line of defense , authorities say is to be skeptical and do your homework.

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Last updated: March 09, 2005
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