Investment fraud in Canada
According to the 2012 CSA Investor Index , just over one-quarter of Canadians (27%) believe they have been approached with a possible fraudulent investment at some point in their lives, and over half of Canadians (56%) agree they are just as likely to be a victim of investment fraud as anyone else.
Combatting investment fraud
Every year, the Canadian Securities Administrators (CSA), the council of the 10 provincial and three territorial securities regulators, releases an enforcement report detailing the work done to combat investment fraud in Canada.
The CSA’s Enforcement Report is available on a dedicated website that allows you to search a database of concluded cases and access PDFs of past reports.
The report includes an interactive chart that explains how most provincial and territorial securities regulators handle enforcement cases. You can also learn about the how the enforcement process works in Canada, and who the key players are in the overall regulation of the country’s capital markets.
How you can help fight investment fraud?
The CSA’s research tells us that only 29 per cent of Canadians approached with what they believed to be an attempted investment fraud reported it to authorities.
Since tips from the public are an important source of information, it is important for you to report questionable promotions to the BC Securities Commission, or your local provincial or territorial securities regulator.
Research before you invest:
- Get to know the Fraud warning signs
- Familiarize yourself with popular scams by reading the Common investment schemes section
- Visit Avoid investment fraud to learn how to identify con artists and the approaches they use to lure investors
- Learn about Fraud among friends and the groups scam artists target
- Read Investor alerts to see if the BCSC has issued any recent consumer warnings about products or individuals