Israeli Officials: Chareidim are Easy Prey for Frauds

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Due to many instances where chareidim invested large sums in fraudulent schemes and lost everything, the Israel Securities Authority is seeking to increase awareness in the chareidi sector, which fraudsters regard as easy prey for their schemes.

Authority Chairman Prof. Shmuel Hauzer and other senior officials gave a briefing on the subject to chareidi media representatives, noting that there has been a sharp increase in investment offers to the chareidi public, with many instances where families lost everything. They spoke of a need to increase public awareness and of authority’s intent to increase the enforcement of regulations, particularly in investments aimed at the chareidi public.

“I believe that the verse, ‘You shall exceedingly guard very lives,’ is also relevant to unregulated investments,” Hauzer said. “It is absolutely life-endangering for complete families. A family loses all its money and finds it difficult to survive. People are actually getting really ill because of this, physically and mentally.”

{Matzav.com Israel News Bureau}

3 COMMENTS

  1. You can say it here in New York as well. All kinds of scheming tricks. Never change checks. Don’t put your address on your personal checks.

  2. עי’ בס’ חפץ חיים על התורה על הפסוק “תמים תהיה עם ה’ אלקיך”, שבא ללמדנו שדוקא עם הקב”ה “תמים תהיה”, אבל כשנוגע למסחר, אל יהיה תמים עם אחרים

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