Find the Truth Behind the Pitch with CFTC SmartCheck

The U.S. Commodity Futures Trading Commission (CFTC) is proud to be recognized as a Money Smart Week national champion. To introduce partners to our agency, and our mission to help the public avoid investment fraud, we’ll join the Federal Reserve Bank of Chicago on Friday, March 10, for a webinar starting at 2 p.m. CST.

“Protect What’s Yours: Find the Truth Behind the Pitch,” will last about 20 minutes, and will cover:

  • Introduction to the CFTC

Established by Congress in 1974, the CFTC is an independent  federal agency that regulates U.S. commodity futures, options on futures, and derivatives markets. We’ll discuss how the CFTC fosters open, competitive, and financially sound markets and protects the public from fraud and abusive practices in these markets.

  • Understanding the cost of investment fraud

No one is certain of the full extent of financial fraud because many victims are unknown. Current estimates place the cost at approximately $50 billion per year. Learn more about fraud risks and tactics.

  • Who fraudsters target

It may not be who you think: The typical victim is college-educated, financially literate, and an experienced investor.

  • Red flags

Find out some  favorite lines fraudsters use,  such as “guaranteed returns” and “act now.” And see real-world examples of fraudsters in action.

  • CFTC SmartCheck

SmartCheck.gov is a one-stop shop for conducting quick and easy background checks on financial professionals. SmartCheck.gov also offers resources for learning more about fraud and updates on the latest fraud trends.

  • The CFTC’s Whistleblower Program

Through this program, the CFTC provides protection and monetary awards to whistleblowers, who share information that leads to criminal actions. Learn how it works.

As part of the webinar, you’ll hear  Bob’s story, a real-life investor who lost his retirement savings to a very convincing fraud. You’ll also learn what Bob could have done to spot the scam before it was too late.  Plus, we’ll share other new programs and tools the CFTC is developing to reduce financial fraud.