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:
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 offers free, confidential discussion groups for victims of fraud and their loved ones. Click here for more information.
- Operation Shamrock is a non-profit that connects law enforcement, regulators, industry leaders, and victims with the vision of ending cyber-enabled crime. Visit operationshamrock.org for more information.
- The Individual, Relational, and Financial Therapy (I-RAFT) Clinic at the University of Kentucky offers low-cost therapy. Click here for more information.
4. Stay current on scam trends. Follow the Department of Financial Institutions on Facebook for the latest scams affecting Kentuckians. You can also visit our 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.
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:
From Boomers to Zoomers: Building a Secure Path Toward Retirement
The Department of Financial Institutions partnered with the Investor Protection Trust, Detroit Public Television and PBS Books on a “When I’m 65” series called “Boomers to Zoomers: Building a Secure Path Toward Retirement.” More information and past episodes are available here.
Scam Jams Events
Find out how to protect yourself from investment fraud by becoming a wise and safe investor. DFI co-hosts Scam Jam events across Kentucky to help citizens guard against various types of fraud. Investors of all ages can find helpful tips and tricks to beware of on this page.
