DEPARTMENT OF FINANCIAL INSTITUTIONS

Investing in your future is important at any age. The Department of Financial Institutions (DFI) works to keep your money safe by registering and examining brokerage firms, investment advisers, representatives, agents, and the securities they offer. DFI also takes complaints and investigates suspected wrongdoing by industries the department regulates.

Before investing, find out if the product and the person selling it are registered with DFI, and see if there have been any complaints or orders filed. Call the Securities Division at 800-223-2579 or visit the online search services below:

• Look up a broker-dealer or agent in the national Broker Check database maintained by the Financial Industry Regulatory Authority (FINRA).
• Check out investment advisers and investment adviser representatives online using the Securities and Exchange Commission (SEC) Public Disclosure Database.
• Check out an investment offering using the SEC’s EDGAR Database.
• Visit DFI’s Securities Enforcement Actions page for enforcement information, including orders, which may not appear in the SEC and FINRA databases.

Important information for investment scam victims:

1. You're at an increased risk of additional scam attempts. Scammers buy and sale victims' data on the dark web. Once you have been scammed, you might see an increase of scam attempts, especially by scammers who falsely promise to recover your money. Stay vigilant.

2. Report to the Internet Crime Complaint Center (IC3). IC3 is an FBI program that tracks and investigates internet-based crimes. Visit IC3.gov and click the red "File A Complaint" button. Even if you don't receive a response from IC3, the information provided is valuable to investigate and prevent scams at a federal level.

3. Find a support network. 

• AARP's Fraud Watch Network offers free, confidential discussion groups for victims of fraud and their loved ones.
• Operation Shamrock is a non-profit that connects law enforcement, regulators, industry leaders, and victims with the vision of ending cyber-enabled crime.
• The Individual, Relational, and Financial Therapy (I-RAFT) Clinic at the University of Kentucky offers low-cost therapy.

4. Stay current on scam trends. Visit the Team Kentucky Stop Scams initiative for information on the latest scams affecting Kentuckians. You can also visit DFI's Education and Media page for additional resources and consumer publications.

Investor Advisories

DFI partners with the North American Securities Administrators Association (NASAA) to bring you timely advisories on important investment-related topics.

• NASAA Investor Advisories
• SEC’s Investor Alerts and Bulletins
  
  • Crypto-Asset Interest Bearing Accounts
  • Relationship Investment Scams
    
• FINRA's Investor Insights
  

Trusted Contacts

DFI encourages investors to establish a “trusted contact” for their financial accounts. A trusted contact is an individual who you authorize your financial firm to contact in limited circumstances. This adds an additional layer of safety to your investment account. A trusted contact cannot place trades or make decisions on your account. A trusted contact may be a family member, attorney, accountant or another third party who you believe would respect your privacy and know how to handle the responsibility. You may establish more than one trusted contact.

Learn more:

• Establishing a Trusted Contact – North American Securities Administrators Association (NASAA)
• Fact Sheet
• Investor Bulletin: Please Consider Adding a Trusted Contact to Your Account – Securities and Exchange Commission (SEC)
  
  

Scam Jams Events

DFI co-hosts Scam Jam events across Kentucky to help citizens guard against various types of fraud. Learn how to protect yourself from investment fraud by attending one of these events.