801-896-0951​
REQUEST A DEMO
SITEQUEST COMPLIANCE
  • Home
  • EAGLE EYE
    • OVERVIEW
    • FEATURES
    • RISK-BASED-REVIEWS
    • REGULATORY RULES
    • EAGLE EYE FAQ
  • SQWATCHER
    • OVERVIEW
    • FEATURES
    • REGULATORY RULES
  • POLICIES
    • OVERVIEW
    • FEATURES
    • REGULATORY RULES
  • ABOUT
  • CONTACT US
  • Home
  • EAGLE EYE
    • OVERVIEW
    • FEATURES
    • RISK-BASED-REVIEWS
    • REGULATORY RULES
    • EAGLE EYE FAQ
  • SQWATCHER
    • OVERVIEW
    • FEATURES
    • REGULATORY RULES
  • POLICIES
    • OVERVIEW
    • FEATURES
    • REGULATORY RULES
  • ABOUT
  • CONTACT US

BLOG

Learn more about what we do while staying up-to-date with industry regulations and trends.

9/2/2020

FINRA Regulatory Notice 20-30:  Fraudsters Using Registered Representatives Names to Establish Imposter Websites

 
Picture
FINRA recently sent out Regulatory Notice 20-30 regarding an increase in imposter advisor websites being created with malicious intent. These fraudsters are also calling and directing potential customers to use these imposter websites. Additionally these imposters may be using these sites to collect personal information from potential customers with the likely end goal of committing financial fraud.

According to FINRA, some common features of these websites include:
​
  • Using the registered representative’s name as the domain name for the website (e.g., firstnamemiddlenamelastname.com).
  • Including a picture purporting to be the registered representative.
  • Providing information about the registered representative’s employment history, including prior employers’ CRD numbers and examination history.
  • Asking individuals to fill out a contact form with the individuals’ names, email addresses, phone numbers, the subject of the inquiry and space for a message.
  • Many of these sites contain poor grammar, misspellings, odd or awkward phrasings, or misuse of financial services terminology.
​
FINRA suggests that “Member firms and registered representatives can take steps to identify these pages by conducting periodic web searches using registered representatives’ names.”
The potential damage of an Imposter Website could be irreversible. What can you do?

Eagle Eye by SiteQuest Compliance has everything you need to monitor the internet and discover imposter sites and other compliance threats to your firm. Our multi-query processes, lexicon searches and dynamically designed algorithms provides more accurate search results saving you time and automatically alerting you to new search results concerning your registered representatives’ identity.  

Additionally, our system considers the domain name as it searches for results and scores them for potential reviews.

Our easy-to-use workflows allow you to quickly review dozens to hundreds of search results in minutes. Many of our clients have found that with Eagle Eye they cut their workload by 80%.

If you do discover an imposter website contact FINRA and the FBI immediately.

See for yourself how Eagle Eye will support your compliance and supervision programs to monitor the web and discover these types of issues and more. Contact us today for your personalized demo.

Eagle Eye also supports your firm’s adherence to regulatory requirements like FINRA Rules 2210, 3110, 3120, and 3270 by providing supervision of the internet.
 
Read the Entire Regulatory Notice 20-30

Comments are closed.

    About James Cella

    James Cella is the President of a growing and innovative compliance technology provider called SiteQuest Compliance. James is a customer-centric individual and focuses on building and sustaining positive and lasting relationship with his clients and partners. James and his family are "super fans" of University of Utah Football and have attended nearly every home game since 2002. Go Utes!


    Archives

    May 2023
    February 2023
    April 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    June 2021
    March 2021
    February 2021
    January 2021
    December 2020
    October 2020
    September 2020
    August 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    October 2019
    July 2019

    Categories

    All
    DBA
    Eagle Eye
    FINRA
    FINRA 2210
    FINRA Regulations
    Internet Supervision
    NASD 2210
    NASD 3010
    OBA
    OCIE Risk Alert
    Policies
    SEC
    SQWatcher
    Supervision
    WSPs

    RSS Feed

Products

Eagle Eye
SQWatcher
Policies

Company

​About Us
​Contact
​Support
Privacy Policy

Popular Posts

Are You Updating Your WSPs?
Firm Fined for Failing to Supervise Social Media Accounts
New Secretary of State Searches
High-Risk Brokers: What Are You Doing About Them?
​
© COPYRIGHT  2023. ALL RIGHTS RESERVED.