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 October 9, 2016 and originally published March 24, 2005.