Illegal investment solicitations can happen through cold calls, email, or through social media channels.
Today, BCSC InvestRight is launching its first video in our new Spot Investment Scams video series. This video shows what can happen if you don’t know the investment fraud warning signs and fall victim to a scammer soliciting people over the phone.
Cold calls are attempts by strangers to sell you investments over the phone. A cold caller selling investments illegally may falsify information, try to pressure you into a bad investment, or attempt to defraud you. They could also be calling from a boiler room or be involved in a recovery room scheme.
If a salesperson says an investment opportunity is too good to pass up, do not give in to the pressure to make a decision on the spot. It is important to always stick with your investment goals and not allow someone to persuade you to invest in an opportunity that is not right for you.
Any time you are considering an investment opportunity, research the company and individual that is offering the investment.
Check to see if the salesperson is registered. Conduct an online registration search through the Canadian Securities Administrators National Registration Search form. You should also conduct background checks to find out if there has been any disciplinary action or enforcement action taken against the companies and individuals involved in the proposed investment opportunity.
If you have any questions or concerns about an investment opportunity that you have been approached with, please call BCSC Inquiries at 604-899-6854 or 1-800-373-6393, or email us at [email protected].
The Manitoba Securities Commission issued a warning to local investors not to do business with Cyprus-based Genius Funds because it may be operating illegally in the province. The Vancouver Sun also referred to Genius Funds in a recent article about investment fraud month. Last week, the BC Securities Commission issued a temporary order against Genius […]
Last week, we issued a temporary order against Genius Funds, alleging that the Cyprus-based company had breached various securities laws. So let’s start with the name of the fund. I believe it was chosen to convince investors that these funds are special because the word genius means a person or body of work of surpassing excellence. […]