The Manitoba Securities Commission
Brings Fraud Prevention Focus to Fraud Prevention Month
Protect Wealth through Fraud Prevention
(March 3, 2008), Winnipeg, MB – The Manitoba Securities Commission (MSC) has joined the Fraud Prevention Forum to encourage Manitoba residents not only to save but also to protect their assets through fraud prevention.
Fraud Prevention Forum partners aim to motivate consumers to financial action by committing to saving, investing and building wealth. “During Fraud Prevention Month, investors of all ages can learn firsthand how to guard their savings from investment fraud by becoming an informed investor,” said Don Murray, Chair of the Manitoba Securities Commission
“Unfortunately anyone with savings or investments, whether it’s $500 or $500,000 may be a target of con artists” said Murray. The MSC recommends these investment fraud prevention tips:
- INVESTigate Before you Invest. If it sounds too good to be true, it probably is.
- Check out the registrations and background of anyone dealing with investments by contacting the MSC.
- Don’t be fooled by “high return, low risk” claims
- Demandez des renseignements écrits sur les produits de placement et les entreprises qui les offrent.
- Never pay cash or wire money for an investment.
- Prenez votre temps. Ne cédez pas aux tactiques de vente agressives.
- Posez des questions si vous ne comprenez pas le produit qu’on vous propose.
- Demandez à une tierce partie indépendante d’examiner le produit de placement.
Murray urges investors to contact the MSC with any questions about an investment product, broker or adviser, before making an investment. “The best time to call us is before you part with your hard earned money.”
You can contact the MSC to obtain resources on investment fraud detection and prevention at (204)945-2548, toll free at 1-800-655-5244 or log on to www.msc.gov.mb.ca .You can also log on to the Competition Bureaus’ web site at http://www.competitionbureau.gc.ca/epic/site/cb-bc.nsf/en/h_00122e.html to find out more about Fraud Prevention Month.