The North American Securities Administrators Association (NASAA) Tuesday released its annual list of the top threats to investors and small businesses, highlighting new threats that have emerged, enabled by technology and legislative change.

In particular, Andrea Seidt, NASAA president and Ohio Securities Commissioner, said that NASAA is concerned that the recent lifting of an 80-year-old ban on the advertising of private offerings “will lead to greater abuse by unscrupulous promoters.”

It notes that the implementation of reforms such as this, as part of the JOBS Act, has also created opportunities for unregulated third parties to provide ancillary services. “Whether a crowdfunding portal or an accredited investor aggregator, it is important to do your due diligence and to understand that use of an unregulated third party to provide such services does not change your obligations under federal and state securities laws,” Seidt said. “Investors are not alone in their potential to be scammed. Using a fraudulent portal means both the business and the investor stand to lose.”

Other novel threats to investors include proxy trading accounts, which involves allowing individuals that claim to have trading expertise to set up, or manage, a trading account on an investor’s behalf. “Allowing someone without the legally-required safeguards of proper registration and bonding requirements to control your account often leads not only to substantial trading losses, but the loss of investment funds through improper withdrawals from the account including theft,” it says.

And, it warns about digital currencies, such as Bitcoin, which NASAA says are highly volatile and complex. “This environment has provided fertile ground for scam artists to capitalize on the increasing popularity and acceptance of digital currencies. Investors should be aware that investments that incorporate abstract money systems present very real risks, including the possibility of virtual reality leaving an investor virtually broke,” it says.

In addition to those new threats, the list, which was compiled by the securities regulators in NASAA’s enforcement section, includes more traditional concerns, such as: real estate investment schemes, high-yield investment & Ponzi schemes, affinity fraud, scam artists using self-directed IRAs to mask fraud, and risky oil & gas drilling programs.