The SEC’s Office of the Investor Advocate has delivered its objectives report for fiscal year 2025 to Congress, with a stark warning about investment fraud.
In her opening statement, Cristina Martin Firvida, the SEC’s Investor Advocate, addresses the continued and evolving threat to investors from fraud, exacerbated by technology and social media, noting that complaints to the agency’s Office of the Ombuds about fraud have increased in the past six months.
“It should concern everyone that fraud is now possible at a scale and complexity not previously practical. We will continue to closely monitor new fraud models and their impact on investors and encourage all investors to keep vigilance as a constant companion,” Firvida stated.
Fraud takes prime position in the Office of the Investor Advocate’s priorities for the new fiscal year:
“This report reaffirms our commitment to identify and address the unique challenges faced by retail investors, advocate for transparency, mitigate fraud schemes, and support the interests of all investors,” Firvida concluded.
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