Illegal investment solicitations can happen through cold calls, email, or through social media channels.
Today, BCSC InvestRight is launching its first video in our new Spot Investment Scams video series. This video shows what can happen if you don’t know the investment fraud warning signs and fall victim to a scammer soliciting people over the phone.
Cold calls are attempts by strangers to sell you investments over the phone. A cold caller selling investments illegally may falsify information, try to pressure you into a bad investment, or attempt to defraud you. They could also be calling from a boiler room or be involved in a recovery room scheme.
If a salesperson says an investment opportunity is too good to pass up, do not give in to the pressure to make a decision on the spot. It is important to always stick with your investment goals and not allow someone to persuade you to invest in an opportunity that is not right for you.
Any time you are considering an investment opportunity, research the company and individual that is offering the investment.
Check to see if the salesperson is registered. Conduct an online registration search through the Canadian Securities Administrators National Registration Search form. You should also conduct background checks to find out if there has been any disciplinary action or enforcement action taken against the companies and individuals involved in the proposed investment opportunity.
If you have any questions or concerns about an investment opportunity that you have been approached with, please call BCSC Inquiries at 604-899-6854 or 1-800-373-6393, or email us at [email protected].
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 Surrey Focus on […]
On July 8, 2011, the British Columbia Securities Commission announced its Criminal Investigations Team arrested Ronald James Conn and his wife, Sze Man “Ella” Conn. The Conns were arrested in Vancouver on June 28, 2011 by members of the BCSC’s Criminal Investigations Team, with assistance from the Vancouver Police Department. It is alleged that Ronald […]