Find out how to spot an investment scam
“Hey do you want to come with me to this investment seminar next week? I’m not supposed to tell too many people – only those friends I really trust. But if you come with me, you can hear more about what they’re offering, because if you do, you could get in on this amazing investment opportunity like I did. The returns are incredible – in fact I’ve already received two cheques since I invested two months ago.”
Does that sound like an invitation you’ve had before? If so, you’re not alone. According to our latest survey released today, this is one of the top three ways Canadians are approached with investment fraud – through a friend, family member, neighbour or co-worker. It’s called affinity fraud, and it’s a method fraudsters use to exploit the trust and friendship of a group. They’re banking on the fact that you trust your friends and then they enlist them to spread the word and lure others into a fraudulent investment.
How can you tell if what you’re hearing about is a scam? To help you spot a fraudulent investment opportunity, we’ve launched a new interactive online tool that we developed with the BC Securities Commission, called Investment Scams: How to Protect Your Money. It focuses on the common ways the scammers try to approach you with an investment scheme– via friend and family or ‘affinity’, the Internet, seminars and advertisements. It’s packed with plenty of tips, testimonials and information you can share and email to friends and family so you can better protect yourselves against investment fraud.
Help spread this useful information. Our latest research further shows that 42% of Albertans believe they’ve been approached with what they thought was a fraudulent investment. If one of those Albertans happens to be your aunt or your buddy from the golf club, it’s important they’re also armed with the information they need to identify an investment scam when they’re approached. The information you pass along could help them feel more comfortable in making an informed investment decision.
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About this Blog
We’ve created this blog to present you with answers to some of the more popular questions we receive from investors. We'll have different subject matter experts blogging about what they know best and we'll update it as new blogs arise. We hope you'll find it interesting and helpful.
Hi, I’m Tamera Van Brunt and I’ve been the ASC Director of Communication and Investor Education for three years now. My previous experience as a broadcast journalist has helped me know the importance of providing people with information that matters to them. I hope you will find our investor education resources helpful and please, share them with friends and family so they too can have the information.
Here are some links I think you’ll find helpful:
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