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The national registration search contains the names of all individuals and firms who are registered to sell securities in Canada, with the exception of those registered solely with the Ontario Securities Commision (OSC).

ASC ExternalSite > Investors > Investor Resources > You ASC'd Blog > Posts > Fight Financial Fraud Contest – Week #5 Pump and Dump Enablers

October 28
Fight Financial Fraud Contest – Week #5 Pump and Dump Enablers

Last week, we learned about the dangers of pump and dump schemes and this week we’re covering a closely-related topic, pump and dump enabler schemes.

Pump and dump enabler schemes can appear to be a valid opportunity, so if you aren’t careful, you could unknowingly become involved. The scheme starts with someone asking to use your name in a “business deal” as a shareholder, director or official for a public company. You will be told that all you have to do is provide some personal information and sign some documents. Sounds easy, right? To make the deal even sweeter, you may even be offered money for your involvement.

What you don’t know is that that this person is trying to set up a fraudulent company, and is looking for an individual with a clean name and record to get this company past the regulators. What you also don’t know is that once you’ve signed your name over, it will be linked to this company forever – for better, but more likely, for worse.

Watch the video to learn more about this type of scheme.

Our quiz goes live today at 12:00 p.m. MDT and will close on Monday, November 7 at 12:00 p.m. MDT. The only way to enter the contest for a chance to win one of three $100 gift cards to Indigo Books is to take the quiz. We hope we have helped you increase your investing knowledge over the past five weeks. Good luck on the quiz!

Click here for contest rules and regulations.

Helpful links

Investment fraud fact sheet

Red flags of investing fraud