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FINRA recently issued Regulatory Notice 20-30 “Fraudsters Using Registered
Representatives Names to Establish Imposter Websites.” The Notice warns of
individuals maliciously using publicly available information regarding
registered representatives in order to create “imposter websites” exhibited as
the registered representative’s personal website. Through these “imposter
websites,” individuals are able to collect personal
information from potential customers with the likely goal of committing
financial fraud.
The Notice outlines several characteristics
of the imposer websites, such as poor grammar or misuse of financial services terminology. Common
features also include: (1) using the registered representative’s name as the domain name for
the website (e.g., firstnamemiddlenamelastname.com); (2) including
a picture purporting to be the registered representative; (3) providing
information about the registered representative’s employment history, including
prior employers and examination history; and (4) asking individuals to fill out
a contact form with the individuals’ names, email addresses, and phone numbers.
In addition to
providing common characteristic of the imposter websites, the Notice also
outlines actions firms and registered representatives
can take to monitor for and address these issues. For instance, FINRA
recommends that member firms and registered representatives conduct periodic
web searches using the registered representatives’ names; report an attack to
the nearest Federal Bureau of Investigation (FBI) field office or the FBI’s
Internet Crime Complaint Center; and seek the assistance of a cybersecurity
specialist, attorney or consultant who has experience with this type of fraud. Registered representatives should not only be
doing this to protect customers, but also to protect their brand and
reputation.