Small towns
Scam artists can cause serious damage to the social fabric of a small, tight-knit community.
How is it done?
When a stranger arrives in a small town and gains the community's trust, people may be very interested in getting in on the investment opportunity the person is offering. The scam artist may work through an established member of the community, by gaining their trust, or they may promote an investment seminar in order to recruit investors then sell them investments in companies that may not exist. The scam artist may join their community, be friendly, visit their homes, claim the same values, and sweet talk them into investing.
Who are the victims?
People who live in small towns may be sitting on large amounts of money in cash or in land. There may be few financial advisors, professionals, or banks in their community. The victims can be of any age, and they may not experienced investors.
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.