The Financial Industry Regulatory Authority (FINRA) recently warned financial professionals that imposters are attempting to collect personal information of investors by spoofing financial professionals’ websites, reaching out to investors, and directing them to the fake websites.

The spoofers are able to go on a financial professional’s website or page, copy and paste the picture of the professional, the background of the professional and the experience and educational background of the professional. Once they copy the information, they set up a new website and paste the information into the fake website.

Investors are contacted and directed to the fake website, and they believe that it is real. Once the investor is directed to the fake website, the spoofer requests that the investor provider personal information through the website, which will be used to commit fraud.

FINRA suggests that financial professionals frequently check for websites using their name, or the name of their employees and preemptively warning investors. If a fake website is located, the firm or individual should contact the FBI, Securities and Exchange Commission and FINRA.

Photo of Linn Foster Freedman Linn Foster Freedman

Linn Freedman practices in data privacy and security law, cybersecurity, and complex litigation. She is a member of the Business Litigation Group and the Financial Services Cyber-Compliance Team, and chairs the firm’s Data Privacy and Security and Artificial Intelligence Teams. Linn focuses her…

Linn Freedman practices in data privacy and security law, cybersecurity, and complex litigation. She is a member of the Business Litigation Group and the Financial Services Cyber-Compliance Team, and chairs the firm’s Data Privacy and Security and Artificial Intelligence Teams. Linn focuses her practice on compliance with all state and federal privacy and security laws and regulations. She counsels a range of public and private clients from industries such as construction, education, health care, insurance, manufacturing, real estate, utilities and critical infrastructure, marine and charitable organizations, on state and federal data privacy and security investigations, as well as emergency data breach response and mitigation. Linn is an Adjunct Professor of the Practice of Cybersecurity at Brown University and an Adjunct Professor of Law at Roger Williams University School of Law.  Prior to joining the firm, Linn served as assistant attorney general and deputy chief of the Civil Division of the Attorney General’s Office for the State of Rhode Island. She earned her J.D. from Loyola University School of Law and her B.A., with honors, in American Studies from Newcomb College of Tulane University. She is admitted to practice law in Massachusetts and Rhode Island. Read her full rc.com bio here.