SEC Investor Bulletin Explains Relationship Scams and Verification Checks

SEC puts relationship and impersonation scams in focus

Relationship investment and impersonation scams are central warnings in a joint investor bulletin the Securities and Exchange Commission (SEC) announced October 5, 2026. Issued with other financial regulators for World Investor Week, the bulletin urges investors to stay alert and prepare for changing economic conditions.

The bulletin describes a relationship investment scam as a gradual effort to build trust. A stranger makes contact through text, social media or a messaging app, develops a friendship or romantic connection, then introduces a fraudulent investment. The investment pitch comes after the personal connection has formed.

Check the request and the professional separately

To verify a request, the bulletin advises calling the organization using a phone number on its public website before sending money or sharing personal information. That provides a separate way to check the request instead of relying on contact details supplied by the person making it.

For checks on an investment professional, the bulletin points to Investor.gov’s investment-professional search, the Financial Industry Regulatory Authority’s (FINRA) BrokerCheck and the National Futures Association’s (NFA) BASIC. These tools let readers check registration status and disciplinary history—whether someone is registered and whether their record includes disciplinary action.

The checks serve different purposes. Calling the organization helps verify a request made in its name. Searching a professional’s record provides information about registration and disciplinary history. The bulletin recommends these steps before readers entrust money or personal information to someone.

Education during World Investor Week

The tenth annual World Investor Week runs October 5–11, 2026. The International Organization of Securities Commissions organizes the campaign to promote investor education and protection.

The bulletin represents the views of SEC investor-education staff. It is educational guidance, not a Commission rule, regulation or statement. Its practical focus is recognizing how trust can lead to fraud and using independent checks before acting on a request.