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Criminals are defrauding investors in rising numbers as they try to exploit chaos unleashed by the Covid pandemic, the Securities and Exchange Commission said Monday.
“The SEC has recently experienced a significant uptick in tips, complaints and referrals involving investment scams,” the federal agency said.
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“Fraudsters use times of uncertainty and change, such as the current Covid-19 pandemic, to lure victims into investment scams,” it continued.
The extent of the increase in fraud documented by the SEC is unclear. A spokesperson for the agency did…