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Be aware of fraud and scams

It is important to stay alert to the risk of fraud and scams.

Scammers may use tactics such as unsolicited messages on mobile phones, third party messaging apps, phishing emails, cold calling or fake websites to try and entice you to invest in false products that feature State Street Investment Management’s name / logo (which may include use of the SPDR brand or State Street Investment Management’s previous name; State Street Global Advisors (SSGA)).

It has been reported that scammers have been impersonating the staff of State Street Investment Management or State Street group and / or promoting fraudulent documentation relating to a range of financial products.

State Street Investment Management does not conduct any business via third party apps such as WhatsApp, Telegram, WeChat, Instagram or Facebook. If you are dealing with someone purporting to be from State Street Investment Management on any such platform, it is not legitimate.

State Street Investment Management would like to remind you to diligently verify the authenticity and reliability of information viewed on websites, social media or received via email, text message or third party apps that claim to be related to, issued or authorised by State Street Investment Management, its employees or our affiliates.

Warning signs

This is not an exhaustive list but here are some common warning signs of a scam:

  • Unsolicited communications

Treat all unexpected communications with caution. Verify the source and check for signs of fraudulent activity. For example, if you are added to a group message with other participants, it is likely those participants are ‘bots’ and not real people. Be careful of fake text messages from people or companies you do not know, and fake email addresses with domains that may look similar to genuine companies or, if the email domain changes over the course of your communications.

Please note that individual State Street Investment Management employee emails end in @SSGA.com or @statestreet.com

  • Promises of unrealistic returns

If it seems too good to be true, it probably is. Be wary of promises of high returns, any guaranteed returns, ‘exciting’ opportunities or returns that are out of line with the market.

  • Time pressure

Any sense of urgency to make a payment or attempt to put you under pressure to make a decision should be treated as a red flag.

  • Payment requests

State Street Investment Management will never request that you make payments to bank accounts in the name of individuals, companies or third parties with no apparent connection to State Street Investment Management, through payment intermediaries, cryptocurrency or payment wallets.

What not to do

  • Do not share any personal information (telephone, e-mail, identity documents, bank details, IBAN, proof of address, etc.) to anyone who’s identity you cannot confirm
  • Do not respond to unsolicited communications
  • Do not make a payment until you have verified the identity of the person or entity and confirmed they are authorised
  • Do not give someone who has contacted you unexpectedly remote access to your computer or any other device

What to do

If you think you may have been a victim of a scam:

  • Stop sending money and immediately contact your bank
  • Immediately report the incident to law enforcement in your jurisdiction
  • Immediately report the incident to the financial regulator in your jurisdiction