Tampa, Fla. – 2015 means new scams for people to watch out for, according to the Florida Office of Financial Regulation. Pyramid, Ponzi and real estate schemes are now joined by new rip-offs. The agency that investors should avoid business pitches involving the marijuana industry and digital currency, like Bitcoin.
The watchdog agency touched on these new threats in a publication issued on Wednesday, according to the Tampa Bay Times.
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The marijuana industry was at the top of the list of emergency threats. While it may be new and fast emerging, regulators say the industry is also very volatile. Medical marijuana is currently legal in 23 states, while recreational use is permitted in four, as well as the District of Columbia. Investors should look out for companies that say they regulate the marijuana industry.
The other up-and-coming scheme involves cyber currency. With the popularity of Bitcoin growing the price for the online currency is also on the rise. Promoters could try to capitalize on this rise in popularity by illegally offering securities tied to the currency.
No matter what the scam is, regulators say to be careful who you trust. 80-percent of investment fraud victims who admitted being scammed told the agency that they were introduced to the fraudster through a friend or family member.