In the spirit of back to school, we thought it would be a good time to point people to some tools they can use to test on their fraud awareness.

Take the Fraud Challenge

In March, we launched The Fraud Challenge, an interactive quiz that allows you to test your vulnerability to fraud. The five question quiz, which is available on BeFraudAware.ca, is based on questions asked in recent national research that found more than 1-in-5 Canadians (50+) are vulnerable a highly risky investment offer.

The Fraud Challenge allows you to see how you compare to those we surveyed in our research. After you enter your answers, a webpage appears displaying your score and the national average score side-by-side. You will also find the answers to the Fraud Challenge and a link to our YouTube page where we expose a fraudster.

If you like, you can share your score with friends via Facebook or Twitter.

CSA’s Online Fraud Awareness Campaign

Also in March, the Canadian Securities Administrators (CSA), announced the results of its 10-week online fraud awareness campaign. The public education initiative included online ads and social media promotions that pointed to the website of a fictitious company, BlueHedge Investments.

During the campaign, the BlueHedge website received nearly 18,000 visits from across Canada, with 71% of those arriving via online advertising, some of which ran on popular search engines. Additionally, more than 10% of those who received unsolicited emails from BlueHedge opened the emails, and of those, almost 13% clicked on provided links.

You can visit the BlueHedge Investments (www.bluehedge.ca) website, which was set up to demonstrate how scam artists lure unsuspecting investors.

When you click to invest, the education website (www.BlueHedgeIsntReal.ca) appears to demonstrate the warning signs exhibited on the BlueHedge Investments website. The education website also provides a primer on how to arm yourself against possible investment scams, and video testimony from someone who was pitched an investment scam.

NASAA-CSA Investment Fraud Awareness Quiz

This 12-question quiz is a collaborative effort between the CSA and North America Securities Administrators Association. It walks you through scenarios and questions that help you indentify areas where you may be vulnerable to fraud.

When you answer a question, a drop down answer will appear to tell you if you got it right or wrong. Each answer also explains why you are correct or incorrect. Take the quiz to learn how you can avoid being a victim of investment fraud.

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In your community this month – October 2011

  BCSC staff ambassadors tour the province, helping people to protect themselves from fraud and unsuitable investments. Our goal is to enable BC investors to develop critical thinking skills so they can become more informed of steps they should take to protect themselves when investing.   Where we are this month    Vernon  InvestRight seminar […]

NT Global and eight other names added to the Investment Caution List

  After receiving reports that Medwell Capital Corp. shareholders were contacted in what appeared to be a “recovery room” scheme, the B.C., Alberta and Ontario securities commissions issued Investor Alerts. BCSC staff also added NT Global to the Investment Caution List.   The man contacting Medwell Capital Corp. shareholders went by the name of Michael […]