Investor Warning: Protect Yourself From Online Crypto and Forex Schemes

The British Columbia Securities Commission (BCSC)’s Enforcement Division previously discovered a large number of websites targeting investors with pre-set cryptocurrency or forex packages that feature common fraud warning signs, such as unrealistic returns.

Now, the BCSC is warning the public that the people behind these websites are using more sophisticated tactics to try and rope investors into their schemes.

Watch our video to find out what we’re seeing on these websites, and how to protect yourself against online crypto and forex schemes.

Do Your Due Diligence and Research Investment Offers

Before making an investment, always examine any website offering investments thoroughly and do your own research. You can also seek independent advice from a registered financial professional for a second opinion on whether the investment opportunity checks out.

In the video, we encourage investors to check the registration of any person or company who claims they are qualified to sell investments. You can look into an investment advisor by conducting a four-step advisor check. You can also use national search tools like AreTheyRegistered.ca to check registration and search for potential disciplinary actions.

It’s good practice to check the BCSC’s Investment Caution List when researching an investment. The Investment Caution List identifies unregistered activity or unqualified securities promotions from outside of BC that target British Columbians.

Contact BCSC Inquiries with Investment Questions or Concerns

We encourage all British Columbians to contact the BCSC if you think you’ve invested in a scam, or suspect a website or individual is promoting a suspicious investment.

Phone: 604-899-6854 or 1-800-373-6393 (Toll free)

E-mail: [email protected]

You can also file a complaint or submit a tip anonymously using BCSC’s online complaint form.

InvestRight.org is the BCSC’s investor education website. Subscribe to receive email updates from BCSC InvestRight.

Suggested Reading

Investment Caution List: 24 New Additions

Protect Yourself From These 5 Investment Scams in 2021

3 Investing Pitfalls You’ll Want to Avoid

More Resources

Investor Warning: High-Yield Crypto and Forex Websites

The BCSC is warning the public that the people behind fake crypto and forex websites are using more sophisticated tactics to rope investors into their schemes.

Fraud Warning Signs

The BCSC is warning the public that the people behind fake crypto and forex websites are using more sophisticated tactics to rope investors into their schemes.