One in ten Canadians say they have actually invested money in what turned out to be a fraudulent scheme. FAIR Canada encourages Canadian investors to do their research prior to investing in order to protect themselves. Before handing over any money, check to make sure the firm and/or individual you are dealing with is registered with a provincial securities regulator, and check their disciplinary history (see ‘How to Check Registration’). The resources below also provide additional information to help investors protect themselves.
Fraud Warnings Signs
Protect Your Investment Account from Fraud
The U.S. Securities and Exchange Commission provides an Investor Bulletin “Protecting Your Online Brokerage Accounts from Fraud“.
The British Columbia Securities Commission provides a mobile “be fraud aware” app, available for free from Apple’s App Store. Desktop and other mobile users can access it at http://befraudaware.ca/
InvestRight.org also provides lots of information for consumers about spotting and avoiding investment fraud. InvestRight.org has provided YouTube videos explaining fraudsters’ tactics.
OSC’s Investor Education Fund
The Ontario Securities Commission’s Investor Office provides resources for Protecting against fraud.