Alberta Securities Commission helps Albertans avoid getting burned by investment fraud during Fraud Prevention Month

Public engagement campaign includes Edmonton coffee shop takeover and events in Calgary and Lethbridge

CALGARY, Feb. 24, 2016 /CNW/ - March is Fraud Prevention Month in Canada and the Alberta Securities Commission (ASC) is educating Albertans about how to avoid being burned by investment fraud. Approximately 30 per cent of Albertans believe they have been offered a potentially fraudulent investment. Unfortunately, the harsh reality is that investment fraud manifests itself in many forms and can be difficult to spot.

The ASC's consumer website, CheckFirst.ca, contains information that can assist Albertans in identifying fraud as well as making informed investment decisions. Among the recent educational information the ASC has provided to Albertans are its top investor risks for 2016, which include:

  • Investing with unregistered salespeople and companies
  • Enabling "pump and dump" schemes
  • Investing in binary options scams
  • Relying on social media and the internet to make investing decisions

"Many people find investing overwhelming and confusing, and we want Albertans to know that the ASC is here to help point them in the right direction," said Alison Trollope, Director, Communications and Investor Education, Alberta Securities Commission. "The ASC has a number of resources that can help Albertans learn to protect themselves and their financial future from the potentially devastating impact of investment fraud. CheckFirst.ca is a great place to start."

To educate the public about investment fraud and to encourage them to Check First before investing, the ASC is engaging Albertans in cities across the province.

On Thursday, March 3 from 7-11 a.m., the ASC will transform Edmonton's Three Bananas Café into its CheckFirst Café. Edmontonians in need of their morning coffee pick-me-up will be treated to complimentary 'Fraud-accinos 'and 'Scammer Scones' while being educated on investment fraud. Well-known Alberta-based a capella group The Heebee-jeebees will be on hand to entertain the crowd. Representatives from the ASC will be available to provide customers with tips on how they can avoid getting burned by asking the right questions, being aware of red flags and checking the registration of the person or company offering the investment.

The ASC's CheckFirst Café will also pop-up at the Calgary Home and Garden Show, February 25 -28, and at the Lethbridge Home and Garden Show, March 16 -19.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with protecting investors and fostering a fair and efficient capital market in Alberta. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

For more information on how to avoid fraudulent investments, visit Checkfirst.ca.                  

SOURCE Alberta Securities Commission

For further information: For Media Inquiries: Doug Self, Brookline Public Relations, Phone: 403-538-5641 x 108, Email: dself@brooklinepr.com; For Investor Inquiries: ASC Public Inquiries, Toll Free: 1-877-355-4488, inquiries@asc.ca

RELATED LINKS
http://www.albertasecurities.com

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890