We hope everyone took time during Fraud Prevention Month to learn more about the dangers of investment scams and protect yourselves from fraud.
This year, we received some questions about investment fraud, the campaign we ran, and the British Columbia Securities Commission (BCSC). We’re using this blog to answer a few queries that are relevant to everyone.
Investors can contact BCSC Inquiries with any questions about the BC Securities Commission, potential scams, and more.
What is Fraud Prevention Month?
Now in its 13th year, Fraud Prevention Month was spearheaded by the Competition Bureau and is now supported by over 80 private and public sector organizations, like the BCSC, who carry out various activities and event in order to combat fraud.
We use Fraud Prevention Month to make sure investors know how to recognize an investment scam and protect themselves from investment fraud.
Does the Fraudster Crooner song make light of investment fraud?
Investment fraud is a serious, life-altering experience. The Fraudster Crooner song uses humour to generate awareness of some common fraud warning signs. After watching the video, investors can learn how to conduct background checks, spot signs of investment fraud, and avoid common scams.
Where does BCSC InvestRight get its funding?
The BCSC funds its investor education programs with the money from penalties and fines imposed on individuals and companies that have contravened the BC Securities Act.
The BCSC is a self-funded Crown corporation. There is more information on funding and accountability on bcsc.bc.ca.
How can I follow active BCSC enforcement proceedings?
We publish news releases and other updates related to enforcement on bcsc.bc.ca. Under the enforcement tab, you can view hearing schedules, decisions and settlements, the disciplined persons list, and more.
I may have information about a potential scam. Where can I report it?
BCSC Inquiries is available to hear your concerns via phone, email, or online form. You can find that information on our Contact Us page or at the bottom of this article.
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 BCSC’s online complaint form.
InvestRight.org is the British Columbia Securities Commission’s investor education website.
In August, the BC Securities Commission (BCSC) issued one notice of hearing, three enforcement decisions, and a news release about reciprocal orders against three individuals. The Investment Industry Regulatory Organization of Canada (IIROC) and Mutual Fund Dealers Association (MFDA) did not release any decisions or settlements relating to BC residents. You can find a summary […]
In recent months, there has been extensive media coverage related to virtual currencies. The virtual currency, Bitcoin, has become a household name, and its value has fluctuated greatly since late last year. North American securities regulators have issued a number of consumer bulletins to educate people about virtual currencies. We have links to the North […]