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.

Suggested Reading

CRM2 Video Series: Know the Value of Your Investments

2009: The year of the Ponzi

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

More Resources

Investor Alert: BC regulator steps into fight against stock spam

  May 18, 2007 Vancouver – People with inboxes crammed with unsolicited emails touting penny stocks can now help the British Columbia Securities Commission in its fight against spam by forwarding the unwelcome emails. The BCSC issued today an investor alert about an over-the-counter quoted company as part of a new program that features halting […]

BC Securities Enforcement Roundup – October 2012

In October 2012, the British Columbia Securities Commission issued one notice of hearing, two decisions, and reasons for revoking a temporary order. BCSC staff, with the help of the police, made one arrest.  During October 2012, IIROC released one settlement agreement relating to a BC registrant, and the MFDA released one decision against a BC […]