As if the real regulators weren't bad enough

Vermont securities regulators are warning investors about scam operations that prey upon people who have previously filed a complaint about an investment scam or bad stocks, according to the Rutland Herald.

Vermont securities regulators are warning investors to be on the lookout for the latest global scam bogus regulatory Web sites.

According to Tanya Durkee, deputy Vermont securities commissioner, the fake online sites, which appear legitimate, gather information from investors who file a complaint about an investment scam or a stock that's gone bad. She said victims have been known to be directed to the Web sites through phone or mail solicitations.

Durkee said it's a new twist on the "advance fee scam," where the victim is required to pay a fee or upfront costs — or give personal account information — before getting their money back.

"You give them this information because the Web site looks for real, like you're really lodging a complaint, then they can use that information against you," Durkee said Monday.

She said the scam is similar to bogus bank Web sites where customers are urged to verify their account information.

The bogus web site scam of "phishing" has already hurt the banking industry's efforts to become more modern in their communications. Pretty soon we'll be back to pen and paper.