Learn the Red Flags of Investment Fraud for Fraud Prevention Month

For Immediate Release

Learn the Red Flags of Investment Fraud for Fraud Prevention Month

Manitoba Securities Commission and Winnipeg Police Service teaching Manitoba investors to recognize and report investment fraud Winnipeg, MB; March 7, 2014 – The Manitoba Securities Commission (MSC) and Winnipeg Police Service (WPS) are teaching Winnipeggers how to protect themselves from investment frauds and scams with an educational pop-up event at Polo Park Shopping Centre during March’s Fraud Prevention Month.

Shoppers are invited to visit the MSC’s pop-up kiosk on March 8 and 9 to speak with Commission staff and Winnipeg Police Service officers about how to recognize the red flags of investment fraud, and what to do if they encounter a potential scam. Investors across Manitoba are also encouraged to learn more about what investment frauds look and sound like by visiting RecognizeInvestmentFraud.ca, where they can easily check the registration and history of their financial adviser, test their ability to identify scams, and even report suspicious activity to the MSC.

“It’s important that Manitobans take the time to learn how they can protect themselves from investment fraud,” says Doug Brown, Director of Legal and Enforcement for the  Manitoba Securities Commission. “Anyone can be a victim and not know until it’s too late. Understanding how and where scams can happen is the first step investors can take to keep themselves safe.”

“We encourage everyone making an investment to do their homework and research not only the investment, but the individual you are investing with. Taking the time to seek  independent advice and never committing to high-pressure-sales tactics will reduce your chance of becoming a victim,” says Detective Sergeant Kim Allen, Winnipeg Police Service. “The wrong time to discover your investment is a scam is after the fact.”

March is Fraud Prevention Month in Canada. The MSC advises all investors to keep the following tips in mind to prevent becoming a victim of investment fraud:

• Know the registration status of your financial adviser
• Never send money to anyone you only know from an unsolicited phone call or email
• Never give out sensitive personal information online or over the phone
• Research an investment before making a commitment
• Report suspected scams to the MSC

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.

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Media Contact Information:
Natalie Aitken
Winnipeg Police Service
204-986-3061