If you’re approached by someone about an investment opportunity – even if it’s someone you know and trust – make sure to check it out first.
Recognizing fraud is the theme of this year’s Fraud Prevention Month campaign. BCSC InvestRight has a set of tools investors can use to assess if an opportunity is a fraudulent investment.
Take the Quiz to Learn the Fraud Warning Signs
The investment fraud warning signs quiz helps investors recognize if an opportunity has some of the characteristics of a scam.
The quiz scores the investment based on the five warning signs of investment fraud.
Do a Background Check on an Investment Advisor
Sometimes a little bit of research goes a long way. The goal of a background check is to learn as much as possible about someone before making an investment.
Investors can do a background check on an investment advisor with these four steps:
- Check registration with the Canadian Securities Administrators’ (CSA) National Registration Search database
- Check disciplinary history using the CSA’s Disciplined List
- Search the internet for the investment advisor’s name
- Interview the investment advisor
Generally, people offering investments must be registered in British Columbia. The CSA’s Guide to Understanding Registration explains the types of registration categories in Canada for individuals and firms.
BCSC Inquiries can help investors with questions about background checks and how to use the registration search tools on the CSA website.
Report a Concern or Submit a Tip to the BC Securities Commission
Is something a little off about an investment opportunity? Don’t assume everything is okay. Report concerns to the British Columbia Securities Commission (BCSC) immediately.
Investors can report to the BCSC via:
Learn More to Protect Yourself from Fraud
Investors can review the basics of investment fraud in the [Fraud Awareness] section of InvestRight.org.
The following resources cover the key investment fraud concepts and topics:
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 online complaint form.
The BCSC announced its participation in "Operation Cryptosweep" coordinated by NASAA