Wondering if the investment you're interested in is legit?
Did you know that 74% of Albertans believe they have been approached with an investment scam in the past three years?
In fact, 13% of Albertans previously approached with a possible fraudulent investment became victims. It can happen to you. Check First and learn to ask the right questions before you invest.
Read Investor Watch notices and avoid the Top Ten Investing Mistakes.
Get tips on how to protect your money.
Use our Scam Sensor to help you spot a potential investment scam. In three questions you’ll have the tools and the knowledge to better assess your investments. And that’s important, because knowing how scams work is one of the best ways to protect your hard earned money.
1. Does the investment offer:
2. You want to invest because:
3. The person who is selling you the investment is:
Be weary of all advice
Even if it’s a financial adviser who is offering you an investment opportunity, you still need to be wary of scams. Sadly, even registered advisers have used the trust of their clients to pull off a scam. You should be concerned if your adviser asks you to make payments to them personally or to their personal company.
Your friends might not have your best interests in mind
Friends and family may not even realize they are getting you involved in a scam. They think it’s a good deal and want you to profit by participating. Many scam artists use the built-in trust between family members, associations, and religious groups to commit “affinity fraud”. Be concerned if someone uses religion to sell you an investment or tells you to trust them simply because others do.
Know who to trust
Scam artists persuade people from all walks of life to give them money. This is accomplished in a variety of ways. Quite often, a scam artist will show you and tell you things that build on the hope of seeing your dreams come true. As this hope increases, your scepticism decreases, and you are more likely to take a chance to fulfil your dreams. This method can fool anyone, even you.
Scams target everyone. Making an informed investment decision means knowing what the investment offers, why you want to invest, and who is selling it.
According to your answers, you are unsure about one of these things. ...?
Think the investment you are interested in might be a scam? Go to Scam Stoppers to find out what you should do.
Find out about some of the current investor alerts you should be aware of.