Learn the Warning Signs of an Investment Scam

Learn the Warning Signs of an Investment Scam

Financial Fraud
(Financial fraud image via Shutterstock)

March is Fraud Prevention Month and the Manitoba Securities Commission (MSC) is encouraging Manitobans take proactive steps to protect themselves from investment fraud.

“Anyone can be the victim of fraud, even those who are financially savvy,” said Chris Besko, director of legal and enforcement for the MSC. “The best way to avoid becoming a victim of an investment scam is to spot it ahead of time, and investors can learn to recognize a fraud by looking for the common red flags.”

The MSC says investors should visit RecognizeInvestmentFraud.com to check the registration and disciplinary history of their financial adviser, test their ability to identify scams and even report suspicious activity to the MSC.

Fraud prevention events will be held throughout the month, including:

  • March 10 — Too Good To Be True Day: Log on to Twitter and use the hashtag #2G2BT to join the discussion across Canada about recognizing and avoiding frauds and scams. Follow the MSC on Twitter at @MSCommission.
  • March 18 — Check Registration Day: Check the registration and discipline history of a financial adviser or company by visiting RecognizeInvestmentFraud.com. Checking registration is a quick and easy first step any investor can take to protect their investments.
  • March 24 — Tweet A Cop: Tweet your questions to Winnipeg Police Services officers at from 6:00 p.m. to 8:00 p.m. using the hashtag #WPSFraudSquad. Follow the Winnipeg Police Service at @wpgpolice.

Investors who believe that they have been approached by an investment fraud are encouraged to call the MSC tip line at 1-855-FRAUD-MB to file a complaint or speak with an investigator.