Scammers posing as financial advisors to steal personal information: issues urgent alert

Fraudsters are targeting unsuspecting investors using various platforms and tricking them into putting money into unlicensed projects like bitcoin. 

A recent investigation led by the United States Securities Office, the FBI, and the Exchange Commission’s Office of Investor Education and Advocacy (OIEA) reveals that fraudsters are pretending to be financial advisors and swindling money from investors., a cyber forensics service for online scam victims, has been receiving an increasing number of complaints from victims reporting fraudsters are tricking them by impersonating (a form of identity theft) registered financial advisors. 

These scammers claim to be working for government authorities like the SEC, FINRA, or state securities regulator. They then convince unsuspecting victims into spending money on a few fake bitcoin schemes, leaving them financially vulnerable.

As Timothy Benson, the chief analyst, explained, "fraudsters impersonated investment professionals from reputed organizations and tricked people looking to invest in profitable schemes. Of the targets, most were cryptocurrency holders. " 

Apart from looting people financially, fraudsters are also stealing personal information like names, addresses, company logos, personal pictures, etc.

Timothy also adds that "the problem with these kinds of scams is that the stolen information stands at the risk of being used misappropriately." But there is always a way to stay secure if one knows the tactics fraudsters use.

How are Scammers Launching Financial Scams?

Here are the following ways scammers are executing these financial frauds, as noticed by bitcoin retrieval expert Peter Thompson:

    • Spoofed websites: Tricksters are setting up fake websites and applications using URL addresses similar to those of registered professionals to trick people into believing they are affiliated professionals.  
    • Creating fake profiles on social media: These tricksters may also create fake profiles on social networking sites to connect with their potential targets. Once they gain trust, they introduce their so-called profitable ideas and flee away as soon as money starts pouring into those projects. 
    • Cold Calling: Bitcoin scam recovery specialist Peter Thompson suggests that oftentimes, these fraudsters also set up what are called "boiler rooms" from where these fraudulent advisors make cold calls to people. Sometimes, they may also use advanced technologies to mirror a real firm’s location. 
  • Falsifying documents: Cybercriminals may also say their firm is registered with exchange commissions pointing investors to fill certain forms like "Form D" and seek support, but in reality, this is just a means to steal information. 

How to Check if an Investment Professional is Legit?

  • Verify the license of the financial advisor: Check their license and gather information about their products and services.
  • The con artists promise high returns on investments with no risk. In reality, this is a sign of a classic fraud. Remember, no investment scheme is free of risks.
  • Ask questions before investing.
  • The advisors don't provide complete information about existing risks.
  • The advisors don’t inform investors about chargeable fees they should be paying. 
  • The advisors don’t educate me about the plan.
  • The advisors don’t want to meet in person.

What To Do If Scammed?

Unfortunately, the number of people getting targeted by scammers is rising every day. But what is most saddening is the aftermath of the scam. Coping with damaged credit, and financial loss is easy, but coping with a range of emotions, including anger, fear, and anxiety, is never easy.

In addition, it is hard to think clearly. So, when targeted by fake financial advisors online, the first logical step is to report the matter to the following authorities:

  • Exchange Commission: Authorities like exchange commissions maintain a list of impersonators. Although there might be impersonators who are not on the list,
  • Reporting the matter to local law enforcement is the first step to getting justice. 
  • Get information on online fraud: Scammers may use a number of sophisticated tactics to trick users. In fact, there are various types of online scams that sometimes become too challenging to differentiate.
  • Hire scam recovery services: Victims may also report the matter to fund recovery services if they have suffered significant financial losses and wish to get back at the scammers. 

How Can Fund Recovery Services Help?

  • Create a secure financial plan: Investigators will start by collecting the documentation regarding the fraud and identifying the tactics scammers may have used to steal financial assets from investors. 
  • Trace digital fingerprints: Fund recovery companies use the latest technology to track digital fingerprints and conduct cyber forensic investigations to return back funds that belong to victims. They will also lend help by suggesting bitcoin recovery measures for the future. 
  • Recover cryptocurrencies: These days, most financial scams revolve around cryptocurrency. And the most valuable digital currency today is Bitcoin. The statistics clearly suggest that more than 55% of scammers target bitcoin holders. Hiring reliable bitcoin fund recovery will ensure to recover scammed bitcoin lost by victims. 

Many victims around the world are exercising their rights and claiming back their stolen money using fund recovery services. is a fully licensed, transparent, and compliant agency helping victims recover from cryptocurrencies, NFTs, and forex trade scams.   

About is committed to providing the most accurate tracing service for victims of online scams. empowers and simplifies the process of tracking down the cyber-criminals and assists in recovering the funds and creating an atmosphere for a negotiated settlement. For more information, please visit

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