Internet promotions
Recognize it
There are many ways online scammers might try to entice you with an investment opportunity. Online fraudsters send e-mail spam, or they approach you on a social media website or in a web forum. An internet advertisement may also lead you to a website, designed to gather your personal information, which they will use to approach you directly or to steal your identity.
Check it out
Protect yourself from internet fraud by using this checklist:
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Don’t expect to get rich quick Evaluate online information the same way that you would any news magazine article, television report, or 'hot tip'. |
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Be careful with your personal information It is unusual for legitimate businesses to ask for your personal information via email. |
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Don’t be lured by claims of 'insider information' Disclosing 'insider information' to a select group of people is illegal. Be wary of such claims. |
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Delete and block spam emails Don’t reply to these emails. You can also install anti-spam software that prevents spam emails from reaching your inbox. |
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Don’t judge a book by its cover Many investing websites look professional, but they lack key information about the company’s management, where it is located, and the nature of the investment. |
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Do an online search See if the investment, individual, or company name comes up when you search it online. You might be surprised at what you find. |
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Make sure you have all the information you need to make a decision Email your questions to the person offering you the investment. Get independent advice on the responses you receive. |
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Keep printed and written records of all correspondence This could be useful if you need to make a complaint or take legal action |
Our Common investment schemes section discusses high-yield investment products and other scams you may find on the internet. Also, check out the Protect your money section.
Report it
Even if you are not considering an investment or haven’t given your money to a person selling the investment, take the time to bring suspicious activity to the attention of securities regulators. Your care and attention may save a friend, family member or member of your community from falling victim to a scam artist.
In BC, contact BCSC Inquiries. You can also anonymously report suspicious activity through InvestRight’s Report a scam webpage.
Residents from other Canadian provinces can find contact information for their provincial securities regulator at
www.securities-administrators.ca.