Across Canada this March, institutions, organizations and individuals are embracing the tagline “Recognize it. Report it. Stop it.” in support of Fraud Prevention Month. Educating and empowering the public with the tools and information needed to recognize the investment fraud warning signs are critical first steps in protecting against financial scams.
Today, we launched a new video series ‘David vs. the Be Fraud Aware App’ aimed at demonstrating the power of the ‘Be Fraud Aware’ mobile app in spotting potential investment fraud, protecting against it and reporting it.
The ‘David vs. the Be Fraud Aware App’ videos, found on YouTube and our Be Fraud Aware App page, includes three short clips demonstrating the ability to use the Be Fraud Aware mobile application for iPhone and iPad to access real-time news, information and on-the-go protection against fraud. The videos depict David, a scam artist, relaying exciting information about suspect investment opportunities, while simultaneously showing navigation through the application to expose his offer as fraudulent. The use of the app renders David powerless.
We are also encouraging people to use the InvestRight Private Placement Market for Retail Investors guide. It explains the difference between public and private markets, how the private market works, and points out the risks of business failure and/or investment fraud that interested parties should be aware of.
The InvestRight ‘Guide to Investing’ and video series join a host of already existing BCSC resources that combine entertainment and education to protect the public, including the Be Fraud Aware app, additional videos, quizzes and more.
During Fraud Prevention Month and beyond, the BCSC remains committed to helping these at-risk individuals stay informed with timely investor education and investor protection news, alerts about scams happening in British Columbia, and unbiased information on new investment products or emerging fads.
Watch Twitter for the hash tag #BeFraudAware during Fraud Prevention Month for news and tips on how to avoid investment fraud.
In Part one, we talked about the big problem that British Columbia had with unscrupulous operators using the loosely regulated US over-the-counter (OTC) markets to fleece investors. Now, I am going to outline how we are cleaning up this market to protect BC investors and its reputation. Unfortunately, there was no one silver bullet to […]
With the Registered Retirement Savings Plan (RRSP) deadline approaching, it is a good idea to familiarize yourself with the Canadian Securities Administrators’ (CSA) Fund Facts Interactive Tool. This tool allows you to better understand the mutual funds that you are considering purchasing as an RRSP contribution. The CSA has published a sample Fund Facts document […]