PHOENIX, AZ — Data from the FTC shows that people reported losing the most money in 2025 to investment scams that originated on social media, with losses of $1.1 billion. Once that money is gone, it's almost impossible to get it back.
The Let ABC15 Know team has heard from multiple people who have fallen victim to investment scams. None of them felt comfortable talking about it on camera, but they all had one thing in common: by the time they realized it was a scam, it was too late.
Before making an investment, consumers can check the Arizona Corporation Commission website to make sure an investor is registered to do business in Arizona.
"You can check licensing, and you can even check if there's any history with the Arizona Corporation Commission for past issues with fraud," ACC Vice Chair Rachel Walden explained.
Even if a business isn't based in Arizona, Walden said it still must be registered with the ACC.
"The different licensing that you have dictates what kind of investments you're authorized to sell, and so that's something that's really important to check too," Walden said.
The ACC Securities Division investigates investment fraud. Walden said her best piece of advice is that if an investment sounds too good to be true, that's because it is.
"Anything promising tax-free earnings, that's going to be a scam. There is no tax-free growth that's available," Walden added.
Walden said financial advisers also should not tell consumers that something is "risk free" or has a "guaranteed return."
"If you see an investment product that is promising that you're going to earn a certain amount or promising there's no risk, you should even report that to the ACC because that's actually breaking… breaking regulations in advertising," Walden said.
Consumers who feel pressured to act fast should take that as a sign to slow down.
"We tell people that you should always pause, research, and verify before acting. If you are working with someone and they say, well, you know, this opportunity expires, it's probably a bad deal because there shouldn't be an expiration date on a legitimate investment product," Walden said.
If you are ever unsure about an investment opportunity, you can call or email the ACC Securities Division to discuss it with them.
Investigator on Duty: (602) 542-0662
Email: SecuritiesDiv@azcc.gov
If you do fall victim to an investment scam, report it to the ACC Securities Division, as they may be able to help you recover some restitution.
Report an investment scam here.
RELATED: Arizona agency can help scam victims recover money and avoid fraud before it happens
Investment scam victims are also encouraged to file complaints with the FTC, FBI, Financial Industry Regulatory Authority and the U.S. Securities and Exchange Commission.
Do you have a consumer problem? Let ABC15 Know! Email Consumer@abc15.com.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
