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.
The BC Securities Commission has developed a new financial literacy outreach program, saveSMART InvestRight, which teaches practical money management for the 18 to 80 set. The BCSC is launching saveSMART to mark November as Financial Literacy Month. “saveSMART is a new 90-minute workshop developed by the BCSC for adult audiences around the province to complement […]
Do you use the Internet to research investments? When you search certain terms, do you look at the advertisements that show up in the results set? Have you ever clicked on one of those advertisements to take a closer look at a high-yield investment opportunity? A recent educational campaign run by Canadian securities regulators shows […]