Take the quiz to learn the investment fraud warning signs

 

 

 

Don't be part of an investment fraud

 

Take the Quiz to Learn the Investment Fraud Warning Signs

 

The investment fraud warning signs quiz helps investors recognize if a potential investment opportunity has some characteristics of a scam. 

 

The quiz scores an investment opportunity on the five warning signs, which include:

  • Promises of high returns with no risk
  • Access to exclusive opportunities or inside information
  • Pressure to act now and make a quick decision
  • Targeting clubs, associations, ethnic communities, or other organizations with investment offers
  • Offshore, tax-free investments

Investors need to know about affinity fraud -- and how to protect themselves

 

Affinity Fraud: What Investors Need to Know

 

When a fraudster targets a group of people, we call it affinity fraud. Fraudsters earn the trust of an influential person in a group, then use this connection to get their hands on the money of others in the group. Affinity frauds can happen anywhere, but often occur in religious, ethnic, and community organizations.

 

Many affinity frauds are Ponzi schemes where money from new investors is used to make payments to earlier investors. Investors may not realize they're part of a scam, so others in the group continue to invest with the fraudster.

 

If you know of an investment that might be an affinity fraud, contact the BC Securities Commission immediately.

 

 

Lost money through Western Union? You may be able to get a refund.

 

Western Union Fraud Refunds

 

If you lost money to a scammer through Western Union, you may be eligible for a refund.

 

The U.S. Federal Trade Commission reached a $586 million settlement with Western Union after the company admitted to aiding and abetting wire fraud. The settlement applies to transactions between January 1, 2004, and January 19, 2017. 

 

Canadians can submit claims without a receipt on the FTC website.

 

 

CFD scams are on the rise.

 

Beware of Contracts-For-Difference Scams

 

The BC Securities Commission is seeing more Contracts-For-Difference (CFDs) offered by unregistered individuals or firms over the internet.

 

A CFD is a derivative intended to be a short-term investment. This type of investment is considered high-risk.

 

B.C. investors should be wary of offers to invest in CFDs. Some schemes offer unrealistic returns or come from companies not registered to sell CFDs in British Columbia. Trading websites for CFDs may also be fake. 

 

Contact the BC Securities Commission if you are suspicious about a person or company offering investments.

 

Contact the BC Securities Commission

 

We welcome questions, comments, and tips related to the securities industry in B.C. If you need to speak to someone in person, please contact BCSC Inquiries.

 

 

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British Columbia Securities Commission

701 West Georgia Street

P.O. Box 10142, Pacific Centre

Vancouver, BC V7Y 1L2

 

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