March is Fraud Prevention Month. The British Columbia Securities Commission (BCSC) wants investors to know how to protect themselves from investment scams and fraud.
This year, BCSC InvestRight created several resources that highlight some of the ways fraudsters may try to steal your money through investment scams.
Fraudster Crooner – A Fraud Warning Song
The Fraudster Crooner music video covers some common scams and warning signs to watch for when someone approaches you with an investment. It’s meant to show how scammers and con artists think, as well as help investors avoid fraud.
Watch the video below and share it on social media.
Conduct a Background Check
Always remember to check your investment advisor’s registration, disciplinary history, and other important details before making an investment.
Visit the Advisor Check page to see tips on how to start your research and what to look for when doing a search.
Fraud Warning Signs, Tools, & Videos
Our Fraud Awareness page has links to resources that help investors recognize, reject, and report investment fraud. Discover articles, videos, and tools to help you identify scams and avoid falling victim to investment fraud.
Beware Binary Options: CSA
Earlier this month, the Canadian Securities Administrators released binaryoptionsfraud.ca, a website that describes the dangers of binary options scams. No firm or person is registered to market, sell, or trade binary options in Canada.
The BCSC has been in the media speaking about binary options scams and how investors can avoid falling preying to these risky, often fraudulent, investments. Binary options are also on the Better Business Bureau’s Top 10 Scams of 2016 list with more than $7 million in lost funds reported to anti-fraud officials last year.
Report a Concern
If you have any concerns about a person or company offering an investment opportunity, please contact BCSC Inquiries at 604-899-6854 or 1-800-373-6393 or through e-mail at [email protected]. You can also file a complaint or submit a tip anonymously using the BCSC’s online complaint form.
To mark Financial Literacy Month, we released an interactive quiz to help people test their general knowledge of cryptocurrencies, digital ledgers, and other crypto assets.
The initiative aims to drive awareness about investing online, digital investment fraud and help investors make better-informed investment decisions.