IRS Warns on Boiler Room Schemes During Fraud Awareness Week

Have you ever been on the receiving end of an aggressive sales call?

Each year, thousands of people fall victim to so-called boiler room schemes. The US Securities and Exchange Commission defines boiler room schemes as large-scale operations designed to lure in as many people into an investment scam as possible, often using high-pressure sales tactics. They typically do this by cold-calling or soliciting through emails, text messages, and social media, often flouting SEC regulations.

The goal of the scammer is to make as much money as possible. They claim that they can make this happen for you, too. The ...