The internet is a quick, easy and cheap way for scam artists to find potential victims for their investment scams. Anyone with a credit card can deploy appealing promotional advertisements on search engines, social media sites and websites with relative ease.

BCSC InvestRight’s “Online Investment Promotions” video, the third video in the Spot Investment Scam video series, shows how easy it can be to get drawn into the allure of internet promotional materials claiming to make you rich

Advertisements that appear when you browse the internet are tailored towards your internet browsing history. This allows promoters to easily catch your attention by directing advertisements to niche markets. Scam artists can do the same thing by directing their scam promotional ads to demographics that they believe are more likely to fall victim to their scam.

It is always wise to do some research on a promotional investment if you are interested in it. Be careful if you are researching online though, as reviews you read could be forged by the scammer(s). Look into the company offering the investment and try to get an individual seller’s name. Once you have the seller’s identification, check to see if they are registered to sell investment products on Canadian Securities Administrator’s Check Registration web page.

Contact the British Columbia Securities Commission’s Inquiries Group at 604-899-6854 or 1-800-373-6393, or by email at [email protected] if you have any questions or concerns regarding a potential investment. You can also report suspicious activity online through BCSC InvestRight’s Report a Scam form.

Suggested Reading

Self-directed investing, is it right for you?

RRSP Season 2012: Fund Facts for mutual funds

Say No to Craigslist Investment Offers

More Resources

New document aims to improve scholarship plan disclosure

New rule changes that aim to give investors better disclosure about scholarship plans came into effect across the country today. Included in the changes is a new document called the Plan Summary, which regulators tailored to meet the needs of investors who have little or no experience purchasing investment products.   A scholarship plan is […]

Fortune Investment Group and five other names added to BCSC’s caution list

British Columbia Securities Commission staff added six new names to its Investment Caution List in December, including a company that was permanently cease traded by a BCSC panel. On Dec. 13, 2011, BCSC staff put Fortune Investment Group (FIG) on the Investment Caution List. Later in the month, a commission panel held a hearing against […]