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New Online Investor Education Program Teaches Students to Fight White-Collar Crime

WASHINGTON, D.C. (August 14, 2007) – The North American Securities Administrators Association Inc. (NASAA) and the Newspaper Association of America (NAA) Foundation today launched FSI: Fraud Scene Investigator, an innovative online initiative to help teach students how to fight investment fraud firsthand.

“FSI: Fraud Scene Investigator,” is an interactive investor education program that teaches and empowers students how to detect and stop investment fraud, using a resource they’re most familiar with—the Internet. The program, along with a corresponding guide for teachers, is available free to educators for use in classrooms and at home through the NASAA website.

The FSI program is designed to help students learn how to:

>> Understand an investment account statement.
>> Examine a company’s stock chart and trading activity.
>> Research a brokerage company / individual broker.
>> Identify a common investment scam.

In the initial FSI program, titled “Suitable Investments,” students help uncover a million-dollar fraud in progress and put the mysterious con man, “Mr. X,” behind bars. Along the way, students learn how to read stock reports, research companies, and decipher the warning signs of fraudulent sales pitches.

The FSI Resource Guide for Teachers offers pre- and post-program student assessment surveys, definitions of investment terms, quizzes, and additional materials and suggestions to lead class discussions on how to research a company, what to look for in a company’s prospectus, and how to read a balance sheet.

“Fraud prevention is often an overlooked piece of many financial education courses. NASAA’s FSI: Fraud Scene Investigator program fills this need by integrating easily as a companion to other financial literacy programs, or functioning as a stand alone resource on investing and fraud prevention,” said Joseph P. Borg, NASAA President and Director of the Alabama Securities Commission. “Special thanks go to NASAA’s Investor Education Section, Youth Outreach Project Group and the West Virginia State Auditor’s Office for making this project possible.”

NASAA’s grassroots member investor education network is working with educators to integrate the FSI program into schools across the nation. In cooperation with NASAA, the NAA Foundation will assist in making the FSI program available to teacher’s throughout the United States through its Newspaper in Education (NIE) network of newspaper websites and resources.

“The NAA Foundation believes in developing engaged students through support of programs like FSI: Fraud Scene Investigator, which enhance understanding not only of investment fraud but the importance of utilizing the channels of verifiable information available to them through online news sources,” said Jim Abbott, Vice-President of the Newspaper Association of America Foundation. “Our Newspaper in Education (NIE) program is a cooperative effort between schools and newspapers to promote the use of newspapers as an educational resource. We are always looking for ways to bring effective online programs to students; FSI: Fraud Scene Investigator is one example of that cooperation.”

NASAA ( is the oldest international organization devoted to investor protection. Its membership consists of the securities administrators in the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Canada, and Mexico.

About the NAA Foundation
The Newspaper Association of America Foundation’s ( program Newspaper in Education (NIE) is a cooperative effort between schools and newspapers to promote the use of newspapers as an educational resource. The NAA Foundation is the administrative organization for over 950 NIE programs in the United States.

Bob Webster, Director of Communications, NASAA (202) 737-0900
Melinda Semadeni, Investor Education Manager, NASAA (202) 737-0900
Jim Abbott, Vice President, NAA Foundation (571) 366-1006

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