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News Release – Thursday, February 16, 2023
IDFPR Warns Individuals of Social Equity Criteria License Lottery Scams
IDFPR Warns Individuals of Social Equity Criteria License Lottery Scams
The Illinois Department of Financial and Professional Regulation (“IDFPR”) encourages individuals to be vigilant about any solicitations to become a potential business partner for the Social Equity Criteria License Lottery (“SECL”). More information on the SECL is available here.
In particular, IDFPR warns that scammers may say they are looking for partners who qualify under the social equity criteria in order to steal their target’s personal information (such as bank account numbers, Social Security numbers, and credit card numbers). IDFPR encourages all potential applicants to do their due diligence on any partnerships and beware of any partnership offers from unknown persons or companies. You are encouraged to look up unknown companies through an internet search, through the Better Business Bureau, or with the Illinois Secretary of State.
Individuals who want assistance with the SECL process are encouraged to contact the Department of Commerce & Economic Opportunity’s technical assistance providers.
If you wish to speak to an attorney regarding business formation or other legal questions, you may contact the Illinois State Bar Association for assistance in locating an attorney. Their website can be found here.
If you are concerned that you or someone you know is the victim of fraud, deception, or unfair business practices, please notify the Office of the Illinois Attorney General through its website.