PENSCO Trust has launched an education initiative to help investors prevent fraud.
PENSCO, which is one the nation's largest, independent custodians of alternative assets, also endorsed the anti-fraud efforts of the Retirement Industry Trade Association, which is comprised of the nation's largest independent custodians in the retirement industry.
RITA's new fraud prevention initiatives include closer coordination with state regulators and law enforcement agencies and a national education campaign, including its new consumer investor awareness kit.
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"PENSCO is committed to helping investors stop fraud before it happens," said PENSCO CEO Kelly Rodriques. "Investing in alternative assets in tax-advantaged accounts is a terrific way to build wealth, but in the current economy, fraudsters may pose a threat to unsuspecting investors. PENSCO's fraud prevention efforts are designed to educate investors and thwart criminals."
PENSCO's anti-fraud initiatives include:
- An education campaign to its clients about the dangers of fraud. In January, PENSCO sent information to clients about ways to detect sham investments. PENSCO provided contact information for regulatory and law enforcement officials, so consumers can report suspicious activity.
- A fraud prevention portal on the PENSCO website. The online resource center teaches investors to spot the early signs of fraud. The site also provides tools to help investors report suspected fraud.
- A free webinar today entitled, "How to Prevent, Detect and Mitigate Fraud." The webinar is scheduled for 2 p.m. Pacific time.
"While PENSCO doesn't perform due diligence or advise clients on their investments, we do care very much about helping protect them from fraud," Rodriques said. "PENSCO's initiative and RITA's efforts are critical to helping investors make smarter decisions."
PENSCO Trust Company is a custodian that helps independent-minded investors build wealth in tax-advantaged accounts.
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