Interactive Brokers is warning customers to be on high alert due to a wave of scams involving fraudsters posing as company representatives.
Interactive Brokers (IBKR) is a global brokerage firm that lets investors trade stocks, options, futures, and other assets on international markets. In a message sent to clients on June 2, the company said it is seeing more cases of criminals impersonating its employees, branding, and email addresses in order to trick people into sending money or giving up sensitive information.
These scams are sometimes called “clone firm” scams. They involve fraudsters copying the look, feel, and even the web addresses of real financial firms to appear legitimate. According to the company, scammers may use its name or logo, spoof real employee identities, or send messages from fake domains that look almost identical to the real ones.
How the scams work
According to the notice, the scam can begin with a phone call, email, or message on social media. Criminals may claim to be from IBKR and tell you there’s a problem with your account or offer you an investment opportunity. They might even send you official-looking documents or ask you to act quickly before you “lose money.”
IBKR says it does not:
- Call people out of the blue to offer investments or products
- Use social media to discuss individual accounts
- Ask for remote access to your computer or phone
- Charge fees to help you open or close an account
- Ask for login details or urge you to transfer funds over the phone
If someone contacts you and does any of the above, it’s almost certainly a scam.
The company urges people to be especially cautious of messages that create a sense of urgency, such as fake warnings about fraud or crashing investments.
How to check if it’s real
Interactive Brokers encourages anyone who receives a suspicious message to verify the source. If someone says they are from IBKR, you should check the company’s official website or contact customer support directly using contact details from a trusted source.
Be cautious. Some scammers even link to real websites, but give out fake contact details.
How to protect yourself
- Never share your login credentials
- Use multi-factor authentication on your account
- Be cautious of messages that create urgency
- Always verify who you are dealing with
- Report any suspicious activity to your local police or regulator
If you are ever unsure whether a message is really from IBKR, contact their Client Services team directly through the company’s website.
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