Avoid scams targeting unions or workers’ organizations
United Against Investment Fraud (UAIF) is designed for members of unions and professional or trade organizations.
When a scammer targets tight-knit groups such as associations, unions, social clubs, and ethnic or religious communities it is called affinity fraud. The scam artist abuses our instinct to trust the people who are like us. The scam artist may be a member of your union or association, or they may be trying to pull members of your union or association into the scam by building relationships with important members of the group to gain acceptance. The scammer will sell first to a few prominent members and then pitch the scam to the rest by using the trust placed in these prominent members.
The effect is the same: Once the connection to the group is established, people’s defenses go down, and members are more likely to be added to a scam artist’s hit list. Learn how to recognize and avoid scams targeting unions or associations.
- How to Avoid Affinity Fraud
- How to Spot a Con Artist
- How to Check your Broker or Investment Adviser
- Investor Bill of Rights
- Request a Speaker. Contact your state or provincial securities regulator to arrange a UAIF investor education presentation for your association or group.