Consumers Should be W.I.S.E.
Watch for Red Flags
Investigate and Research
(Know your budget, buy from trusted websites/retailers)
Examine the Fine Print
The Knights of Scamalot can help you defend yourself against fraudulent ne’er-do-wells
The Wise Investor
If an investment seems too good to be true, it probably is. Your best defense is to check:
- An individual’s or company’s license. A securities license is required in Utah.
- Be aware and check the Utah White Collar Crime Offenders Registry List: www.utfraud.com
An affinity scam is a type of investment fraud where a friend, family member or other community uses the trust you have with them to buy into a fake or bad investment. These scams are often referred to as pyramid schemes or ponzi scams. Beware of these to-good-to-be-true investment deals as they promise only a dastardly downfall.
Protect yourself from affinity scams:
- Research the person’s background and ensure they’re licensed.
- Request to see the investment opportunity in writing.
- Be wary of guaranteed returns or high profit returns on your investment.
- Resist being pressured to buy into an investment before you can research it on your own.
The Real Estate Whiz
When real estate professionals, mortgage lenders and appraisers give you their word, remember to do your research to ensure they are trustworthy. Be aware of these common real estate scams.
Before wiring money to a title company or lender, verify all information received via email by calling your licensed real estate agent or lender to avoid being scammed.
The Custodian Of Catfishing
Love can be blind, but be wise and keep and eye on your finances. Be aware and watch out if someone says they can’t meet you in person, claim to live far away and ask to borrow money so they can visit you. Learn more about looking after your heart and bank account with these resources:
The Digital Savvy
- Spot a scam when asked for payment in giftcards.
- Be cautious of influencers and their financial advice.
- Ways to not lose real money in the virtual world.
The Contract Crusader
Before hiring a contractor to make repairs or improvements to your dwelling, exercise due diligence to ensure their deeds are noble:
- Search the Licensee Lookup & Verification System to verify a license.
- Research the contractor on Google, Facebook, and other sites for reviews, examples of their work, and legitimacy.
- Ask for a contract with the price of the job included and wording that states the homeowner must approve the results of the work before payment is made.
- Follow these seven steps to home improvement success.
If something does go wrong with a home project, know how to protect yourself.
File a Complaint
If you believe you are the victim of investment trickery, you may file an online complaint.
- For affinity fraud and securities scams, file a complaint with the Utah Division of Securities or call (801) 530-6600.
- For contractor and construction violations, file a complaint with the Utah Division of Professional Licensing or call (801) 530-6628.
- For Real Estate fraud, file a complaint with the Utah Division of Real Estate or call 801-530-6749.
- For Consumer Fraud, file a complaint with the Utah Division of Consumer Protection or call (801) 530-6601.
- Explore these websites to learn more about how the Utah Department of Commerce is strengthening trust and protecting Utah through education, regulation and licensing.
Not sure who to contact, email us or call (801) 530-6701 for help or to report a suspected scam.
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Contact Information & Hours
8:00 A.M. to 5:00 P.M.
Monday – Friday
SM Box 146701
Salt Lake City, UT 84114-6701
Heber M. Wells Building
160 East 300 South
Salt Lake City, Utah 84111