In support of Fraud Prevention Month, the British Columbia Securities Commission (BCSC) launched its Fraudster Fighter Tool Kit, an investor protection resource available on InvestRight.org. The Tool Kit contains links to the BCSC’s Be Fraud Aware mobile app, guides on how to be an informed investor, and helpful videos on a variety of topics. Most importantly, the Tool Kit links to a form people can use to report a suspected fraud.
“The Fraudster Fighter Tool Kit contains information and tools that investors can use to learn how to recognize, reject, and report investment fraud,” said Brenda Leong, BCSC Chair and CEO. “We need investors to report suspicious activity to us as early as possible so we can disrupt it before investors are harmed.”
In addition to the tool kit launch, the BCSC’s award-winning Be Fraud Aware advertising campaign was renewed on February 23. The commercials, featuring David the fraudster and Jean the informed investor, will run for the remainder of March.
Throughout Fraud Prevention Month, the BCSC will also be conducting further research into investment fraud. Results will be shared at the end of March. Research on fraud vulnerability among seniors and pre-retirees conducted by the BCSC in 2012 showed that many investors have unrealistic expectations about market returns, and do not understand the fundamental relationship between risk and reward.
I have spent the last couple of months writing about online internet scams called high yield investment programs (HYIPs) which are a type of Ponzi. These schemes are promoted online through social media – Facebook, YouTube, Twitter, chat rooms, and the myriad of HYIP websites that list and analyze these programs. That’s one way of enticing people […]
In your community this month BCSC staff ambassadors tour the province, helping people to protect themselves from fraud and unsuitable investments. Our goal is to enable BC investors to develop critical thinking skills so they can become more informed of steps they should take to protect themselves when investing. Where we are this month Victoria […]