About Indiana Investment Watch
A statewide survey conducted by the Secretary of State’s office in early 2006 showed that nearly two-thirds of Indiana adults who own financial investments have little or no knowledge about potential fraud schemes or the security of such investments.
In an effort to combat this lack of investment education among all Hoosiers, Secretary of State Todd Rokita assembled an industrious plan, including a $1.8 million awareness campaign, to raise understanding and thwart scam artists and perpetrators of fraudulent sales pitches to investors.
More than 1,000 Hoosier families took part in the statewide survey, which was paid for by money received by the state from a multi-billion-dollar, national legal settlement with unscrupulous brokers, investment houses and stock market investment companies.
The program, titled Indiana Investment Watch, is a broad-based campaign that expects to reach the millions of residents who have investments or may soon be looking for investment opportunities.
Similar to national data, participation in 401(k)s, IRAs and the stock market account for a large majority of Hoosier investments. But, a large portion of Hoosiers—28 percent—said they didn't own any type of investment, raising the question of whether Hoosiers are adequately preparing for retirement.
As expected, identity theft was a top concern of Hoosiers, but other forms of fraud, such as consumer fraud and questionable investment opportunities, were also identified by participants as troubling issues.
One of the more striking findings was an apparent knowledge gap on where Hoosiers should turn to get reliable investment information and check on possible scams. A large majority of Hoosiers felt it was the responsibility of state government to provide guidance and information, but they didn't know which office should or would provide such detail.
With an extensive campaign throughout the state featuring television, radio, print, outdoor, interactive CD-ROM/DVD, podcasts and newsletters, Secretary of State Todd Rokita has been alerting Hoosiers to the dangers of fraud. Indiana Investment Watch also offers a series of investment workshops, “Protect Your Pockets,” for citizens around the state.
