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.
Know the fees and charges you pay
British Columbia Securities Commission staff recently added FXDD Malta Limited to the Investment Caution List. Staff recently received information that BC residents have accounts with FXDD Malta Limited (FXDD Malta), a firm offering foreign exchange trading services. FXDD Malta is not registered in British Columbia to trade in, or advise on, securities and exchange contracts. […]