According to a warning publicized by the Securities Investor Protection Corporation, scammers – or “perhaps a group of scammers” – are contacting people with a history of falling for investment scams and attempting to repeat the process[1]. To initiate the scam, a person posing as an SIPC investigator calls and tells them that the SIPC has seized the assets of a company or individual that previously defrauded them. Once the target pays a small fee and provides some personal information to prove their identity, the “SIPC representative” will return the money. The scam is usually initiated by email, then followed up by a phone call if the target ignores the email.

Currently, the SIPC has turned the matter over to the Department of Justice for further investigation and encourages anyone contacted by an alleged SIPC representative and asked for money to contact SIPC directly. “Investors with missing stocks or cash do not pay a fee for recovery of those assets,” emphasized SIPC president Stephen Harbeck.

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[1] http://www.bankinvestmentconsultant.com/news/SIPC-phishing-scam-targets-investors-victims-2673874-1.html?