From the Missouri Securities Division, a division of Missouri Secretary of State Denny Hoskins’ Office
- Scams Involving Digital Assets and Cryptocurrency
Scammers often use Facebook, Telegram, WhatsApp, TikTok, YouTube, Instagram and other social media apps to find victims. Be cautious if someone asks you to cash out a retirement account like a 401(k) or to move money from an investment account into some sort of crypto platform. Always check the person’s background and qualifications before investing. If they hesitate to share that information, that’s a red flag. Walk away.
- Unregistered Promissory Notes
Securities must be either registered or legally exempt—and so must the people selling them. Scammers often build trust and then ask for money. No friendship should require an investment. If it does, it’s likely a scam.
- Risky Real Estate Investments
Real estate investment scams are on the rise. Scammers may try to sell you a share in a company that plans to buy and fix up distressed property for big profits. In many cases, the property is worthless, and investors lose most of their money. Always ask for a prospectus and read all disclosure documents before investing. Never invest more than you can afford to lose—there’s no such thing as a risk-free investment.
- Gold, Silver and Other Precious Metals
Precious metals can help diversify your portfolio, but scammers use fear and pressure to convince people to invest too much in them. These investments may have hidden fees or be hard to sell. Some buyers have found it would take years to recover what they lost—time that older investors may not have.
- AI-Generated Testimonials
Many online celebrity endorsements and reviews are fake and made using artificial intelligence. Whether real or not, a testimonial is never a reliable way to judge an investment. Always talk to a registered investment adviser. (You can check registrations on the Missouri Securities Commission website!) Don’t invest just because someone famous—or even a friend—recommended it.
Stay alert when it comes to your finances. If someone asks for your investment, you can check their background by calling the Missouri Investor Protection Hotline at 1-800-721-7996.
The Missouri Securities Division, a division of Missouri Secretary of State Denny Hoskins’ Office, is here to help protect your hard-earned money.
About the Missouri Securities Division
The Missouri Securities Division, a division of the Missouri Secretary of State’s Office, is responsible for protecting Missouri investors and ensuring fair and transparent securities markets. Under the authority of the Missouri Securities Act of 2003, the Division regulates the offer and sale of securities and the licensing of broker-dealers, agents, investment advisers, and investment adviser representatives.
The Division investigates allegations of securities fraud and unregistered activity, brings enforcement actions against violators, and provides investor education resources to help Missourians make informed financial decisions. Through proactive oversight and enforcement, the Securities Division plays a critical role in promoting public trust and financial integrity in Missouri’s investment landscape. The Division is led by Commissioner Michael O’Donnell.
About the Missouri Secretary of State’s Office
The Missouri Secretary of State’s Office serves as a central hub for key state functions that promote transparency, security, and opportunity for all Missourians. The Office oversees the administration of fair and secure elections, registers and supports businesses, maintains and preserves state records through the State Archives, and ensures public access to government rulemaking via the Administrative Rules Division.
Additionally, the Office protects investors through the Securities Division, supports libraries and literacy programs across the state, and administers the Safe at Home address confidentiality program for survivors of abuse and assault. With a commitment to service, accountability, and civic engagement, the Secretary of State’s Office works every day to strengthen Missouri’s government and communities.
