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Fraud Articles


July 2026
That Unexpected Text Message Could Be a Scam
AAII Journal Article by Charles Rotblut
Investment-related scams are currently some of the most highly reported scams. Find out how to protect yourself.

September 2023
Detecting Earnings Manipulation With the M-Score
AAII Journal Article by Messod D. Beneish
The eight variables in the M-Score model are designed to capture bloating or cosmetic changes made to a company’s financial statement numbers.

July 2020
Protecting Yourself Online
AAII Journal Article by Jess Sherman
There are basic steps you can take to recognize and help protect against the inevitable email and internet scams and attacks.

June 2020
What the SEC Is Doing for Individual Investors
AAII Journal Article by Charles Rotblut, Lori J. Schock, Jay Clayton
The SEC chairman and education director address AAII members’ concerns in a wide-ranging discussion covering the volatile markets, investor scams, SEC initiatives and teaching your kids.

05/28/2020
Webinar Wednesdays: Alliance for Investor Education Panel Wrap-Up
Update by AAII Staff
Watch panelists from AAII, AIE, AARP, the CFA Institute, the PIABA Foundation and the Investment Company Institute (ICI) discuss investing mistakes to avoid in the next six to 12 months.

April 2020
Resources for Checking Out an Adviser or Broker
AAII Journal Article by Ryan Reeh
You can find out a lot from a Google search, but BrokerCheck and the SEC’s IAPD databases are treasure troves of disclosure information on investment advisers and brokerage firms.

December 2019
A Dozen Tax Scams to Avoid
AAII Journal Article by Anine Sus
The Internal Revenue Service (IRS) released 12 scams that commonly target taxpayers during tax season and throughout the year.

July 2019
I Have Personally Been a Victim of Fraud
AAII Journal Article by Charles Rotblut
This month’s issue discusses investment scams; the timing is ironic because recently my credit card’s information was stolen.

July 2019
Avoid Becoming a Victim of Investment Schemes
AAII Journal Article by H. Kent Baker, Vesa Puttonen
The creative imaginations of con artists permit almost limitless ways to swindle investors. Your best line of defense is education and awareness.

January 2019
Active Traders, Not Novices, Fall for Scams
AAII Journal Article by AAII Staff
Participants in pump-and-dump schemes tend to be middle-aged, affluent and male. They also have prior trading experience, particularly with penny stocks, and exhibit a high tolerance for risk.

June 2018
Tricking Investors With Merger-Related Accounting Shenanigans
AAII Journal Article by Howard Schilit
Acquisitions give managers opportunities to artificially boost performance or hide past mistakes. Learn how to spot these shenanigans.

April 2018
Survey: 8% of Older Adults Are Victims of Financial Fraud
AAII Journal Article by
A series of questions in the 2016 Health and Retirement Study (HRS) asked respondents over the age of 50 about financial victimization. (The median age was 68.) Eight percent reported to have fallen prey to at least one form of financial fraud within the past 12 months.

November 2015
FINRA Proposes Suspending Withdrawals If Fraud Is Suspected
AAII Journal Article by
New rules intended to protect seniors from financial fraud were proposed by the Financial Industry Regulatory Authority (FINRA).

July 2015
Five Warning Signs of Financial Fraud
AAII Journal Article by
Since older Americans are often targets of investment fraud, the Securities and Exchange Commission (SEC) issued an alert listing five “red flags” to look for.

April 2015
The “Other” Costs of Financial Fraud
AAII Journal Article by
Victims of financial fraud incur varying degrees of indirect and direct financial costs as a result of the criminal activity.

June 2011
Using SEC Filings to Identify Risk Factors
AAII Journal Article by Michelle Leder
Potential problems in companies can be identified before they wreck havoc with your portfolio by looking at SEC filings.

April 2009
Due Diligence: 10 Steps to Avoiding Ponzi Schemes and Financial Fraud
AAII Journal Article by Karen C. Altfest
The uncovering of Bernie Madoff's Ponzi scheme, and the fraud committed by several other financial hucksters, highlights the importance of asking the right questions before selecting an advisor or participating in an investment. Ten questions to ask, and red flag warning signs of the potential for trouble.