Here are the top ten scams, as measured by the North American Securities Administrators Association. The links below provide more information on each of these scams.
1. Ponzi (pyramid) schemes
2. Unlicensed securities dealers
3. Unregistered investment products
4. Promissory notes
5. Investment scams that target senior citizens
6. Sky high-yield investments
7. Internet fraud
8. Schemes that target a race, religion or ethnic group
9. Variable annuity sales
10. Oil & gas scams
Take some time to look through the information. Education is the best defense against these scams. If you need to report a scam, contact your NASAA representative.
Updated February 6, 2012 and originally published March 24, 2005. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.