The state Department of Banking and Securities urged members of the military, veterans and their families to use caution and avoid investment scams targeting the military community.
The department raised the issue this week, which is the national Military Saves Week.
Through its Investor Education program, the department reaches out to groups across the state, including members of the military and veterans, to educate them about investing, as well as how to avoid financial scams.
“Before investing, members of the military, veterans and their families should check with the Department of Banking and Securities to verify that the investment and the person recommending it are properly registered,” said Tina Kotsalos, the department’s Investment Education Coordinator.
Information on these programs is available at www.dobs.state.pa.us.
Investors, including the military, veterans and their families, with questions about investment opportunities or other types of financial transactions can call the Department of Banking and Securities toll-free hotline: 1-800-PA-BANKS (800-722-2657).