MADISON, Wis.–People seeking to help victims of Hurricane/Tropical Storm Harvey are being cautioned to not let their good intentions be ruined by scammers.
As often happens after disasters, crooks pose as legitimate charities or investment opportunities, and many people—including credit union members—are taken advantage of.
“As we are seeing in Texas, natural disasters bring out the best in people, with neighbors helping neighbors. Unfortunately, we know from experience that disasters also can bring out the worst in people, particularly those seeking to profit from the misfortune of others,” reminded Leslie Van Buskirk, Administrator of Wisconsin’s Department of Financial Institutions’ Division of Securities. “Unsolicited investment offers seeking to capitalize on the aftermath of Hurricane Harvey should be approached with extreme caution.”
Van Buskirk encouraged investors to watch for red flags of hurricane-related scams, including unsolicited e-mails, social media messages, crowdfunding pitches or telephone calls promoting investments related to helping storm victims, water-removal or purification technologies, electricity-generating devices and distressed real estate remediation programs.