Fraudsters often use newspapers, TV, radio, billboards, tradeshow booths, and seminars to promote fraudulent investments.
Watch the BC Securities Commission’s new Spot Investment Scams video illustrating the risks of investing in an investment promotion without conducting research and due diligence.
If you see an investment ad that intrigues you, take the time to research the promotion as thoroughly as possible before committing to it. You should also do a background check on the person selling the investment, as well as the company they are affiliated with. You can use the Canadian Securities Administrators’ (CSA) Check Registration list to ensure that the person is a registered investment advisor and is registered to sell the advertised investment product.
You can also use the CSA’s Disciplined List to investigate whether the individual or company have been disciplined or sanctioned for securities violations.
It is always wise to be suspicious and skeptical of investment advertisements that offer free gifts, spectacular returns, and little or no risk.
If you have any questions regarding a potential investment or have come across a suspicious investment ad, do not hesitate to contact BCSC’s Inquiries Group at 604-899-6854 or 1-800-373-6392, or by email at [email protected]. You can also report suspicious activity through BCSC InvestRight’s Report a Scam form.
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This week’s post is a collection of investment fraud warnings from regulatory authorities in Canada and the United Kingdom. Investment Fraud video from the UK As you may already know, we are running a province-wide Be Fraud Aware campaign that aims to raise awareness of investment fraud and encourage reporting to the BCSC. We’ve heard […]