PRESS RELEASE
"Securities Department Distributes Fraud Awareness Quiz"
 
For Immediate Release
Wednesday, April 30, 2003 
 
Contact: Irving L. Faught
  Oklahoma Department of Securities
  405-280-7700
 
 
Oklahoma City/////  Are you at risk of becoming a victim of financial fraud? A simple quiz released today by the Oklahoma Department of Securities will help answer that question, while testing, and increasing, the financial knowledge of Oklahomans.

According to Irving Faught, Administrator of the Commission, “billions are lost to investment fraud every year. From the Yukon Territory to Miami, con artists don’t discriminate, anyone can be a victim. Investors need to be aware of the warning signs for fraud, where to turn for information and what protections they have.”

The interactive Investment Fraud Awareness Quiz can be found on the Oklahoma Securities Commission’s website, www.securities.state.ok.us. The quiz is a part of a part of the Oklahoma investor education program and an annual investor outreach initiative held in April across North America. The quiz is designed to test investors’ knowledge of investment fraud and to encourage them to watch out for fraud warning signs.

The 20-question quiz takes about 10 minutes to complete and a score and results are generated immediately. Questions cover topics such as investment risk, fraudulent products, how to deal with a securities salesperson and the role of government securities regulators. The quiz was developed by The North American Securities Administrators Association (NASAA) and the Canadian Securities Administrators (CSA). A compilation of the overall results of the quiz will be published nationwide at a later date.

“We want to give investors the tools they need to protect themselves,” Faught said. “This quiz not only tests investors current knowledge of scams and frauds, but is designed in such a way as to increase their financial literacy at the same time.”

Faught reinforced the need for investors to contact the Department to check out investments and promoters prior to handing over any money. “Disciplinary records of all registered securities professionals are available to the public and can confirm that investment products and salespeople are properly registered. One quick call to the Department can save you a lot of grief down the road.”
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This press release, and related information, is available on the Securities Commission's web site at securities.ok.gov, by phone at (405) 280-7700, or in writing at:  Oklahoma Securities Commission, 204 North Robinson, Suite 400, Oklahoma City, OK 73102.