The SEC said some scammers are now posing as licensed business operators in the capital market or utilising the names, photos, or logos of the SEC or even other regulatory authorities to deceive people into giving them money.
The fraudsters use many methods, including phones, online applications, and social networks, to convince their victims to make investments with them, it said.
To combat the increasing cases of frauds, the SEC has put together a list of fraudulent businesses in the “investor alert” section on its website based on the evidence it has found and complaints it has received.
