Be Aware of Investment Fraud and Scams Involving Artificial Intelligence (AI) //

The Securities and Exchange Commission (SEC) Office of Investor Education and Advocacy, the North American Securities Administrators Association (NASAA), and the Financial Industry Regulatory Authority (FINRA) previously issued an Investor Alert to make investors aware of the increase of investment frauds involving the purported use of artificial intelligence (AI) and other emerging technologies. Individual investors should know that bad actors are using AI to lure victims into scams.

For detailed information and steps you can take to protect yourself from scams and fraud involving AI, click Artificial Intelligence (AI) and Investment Fraud: Investor Alert

Source: Investor.gov

About Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is a nationally recognized, plaintiff-side class action firm dedicated to protecting investors and consumers from fraud and misconduct. Our attorneys have served as Lead or Co-Lead Counsel in major securities cases, recovering over $10 billion for institutional and individual investors.

Our firm litigates securities fraud, fiduciary breaches, unfair mergers and acquisitions, and antitrust violations, while also representing whistleblowers and advocating for victims of data breaches, consumer fraud, vehicle and product defects, employment law violations, retirement plan mismanagement, and other corporate and business misconduct. With a results-driven approach, we pursue justice and substantial recoveries for those we represent.

Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning clients are not responsible for any fees or litigation expenses.

PHONE

Tel: 215-792-6676

EMAIL

[email protected]

Kehoe Law Firm, P.C. is ensuring consumers are aware that Texas is on the verge of enacting a significant “Right to Repair” law. Texas Legislature HB 2963, which mandates that manufacturers provide spare parts, manuals, and required tools for products sold or used in Texas, has been unanimously approved by both the Texas House (126-0) and Texas Senate (31-0).

If signed into law by Governor Greg Abbott, Texas will become the ninth state to adopt right to repair legislation and, importantly, the seventh state with a right to repair law including consumer electronics. This move aims to reduce electronic waste—estimated at 621,000 tons annually in Texas—and expand repair access for consumers and independent shops.

Sources: TheVerge.com, “Texas Right to Repair bill passes, heads to the governor’s desk”; PIRG.org, “Right to Repair passes overwhelmingly in Texas” (referenced in TheVerge.com article).

About Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is a nationally recognized, plaintiff-side class action firm dedicated to protecting investors and consumers from fraud and misconduct. Our attorneys have served as Lead or Co-Lead Counsel in major securities cases, recovering over $10 billion for institutional and individual investors.

Our firm litigates securities fraud, fiduciary breaches, unfair mergers and acquisitions, and antitrust violations, while also representing whistleblowers and advocating for victims of data breaches, consumer fraud, vehicle and product defects, employment law violations, retirement plan mismanagement, and other corporate and business misconduct. With a results-driven approach, we pursue justice and substantial recoveries for those we represent.

Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning clients are not responsible for any fees or litigation expenses.

PHONE

Tel: 215-792-6676

EMAIL

[email protected]

Can you spot an investment scam if it comes from a supposed friend’s social media page?

The FTC cautions consumers that if someone you supposedly know is suddenly posting bank account screenshots, claiming they can teach you to make money quickly with little to no risk, it’s likely an investment scam. 

For example, an “old friend” announces they have become an online investment guru. Your newsfeed then gets filled with reels about their “foolproof method of earning big money.” You then, perhaps, comment on your “friend’s” post, and they direct message you, explaining the process but with few details.

They might guarantee big returns and say it’s a limited time offer. To get started, they say to just send a few hundred dollars — maybe using cryptocurrency or a payment app like Venmo, Cash App, or PayPal. Then, poof! Your “friend” blocks you and your “investment” is gone. Unfortunately, it was a scammer who took over your friend’s account to get their followers (like you) to “invest” your hard-earned money.

If someone asks you to invest money in a situation like this, it could be a scam.

The FTC recommends the following ways to avoid investment scams before you respond:

• Slow down. Resist the pressure to click links or send money before you think it over. Scammers want you to act now and think later.
• Do some research. Look up the name of the company or program with words like “review,” “scam,” “fraud,” or “complaint.” See what others are saying. Then, go to Investor.gov for legit advice.
• Know the risk. There are no guaranteed returns — and no investments without risks. Scammers want you to think their opportunity is risk-free, but it’s not.
• If you still think it’s a scam, send an email or text to your real friend, in case their account has been hacked.
• If you spot an investment scam on your timeline, report it to the FTC at ReportFraud.ftc.gov and the SEC at sec.gov/tcr.

Source: FTC.gov

About Kehoe Law Firm, P.C.

Kehoe Law Firm, P.C. is a nationally recognized, plaintiff-side class action firm dedicated to protecting investors and consumers from fraud and misconduct. Our attorneys have served as Lead or Co-Lead Counsel in major securities cases, recovering over $10 billion for institutional and individual investors.

Our firm litigates securities fraud, fiduciary breaches, unfair mergers and acquisitions, and antitrust violations, while also representing whistleblowers and advocating for victims of data breaches, consumer fraud, vehicle and product defects, employment law violations, retirement plan mismanagement, and other corporate and business misconduct. With a results-driven approach, we pursue justice and substantial recoveries for those we represent.

Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning clients are not responsible for any fees or litigation expenses.

PHONE

Tel: 215-792-6676

EMAIL

[email protected]