CANADA, March 30 – Released on March 30, 2022
Digital investment tools and new technology have enabled fraudsters to target large numbers of Canadians. This Fraud Awareness Month, the Financial and Consumer Affairs Authority of Saskatchewan warns residents to be vigilant when considering investment opportunities, to watch for warning signs of fraud, and to protect themselves from financial predators.
“Knowledge is the best defense against scams,” Financial and Consumer Affairs Authority Securities Director Dean Murrison said. “Promising risk-free investments or pressuring someone to make a quick decision are classic tactics fraudsters will use to lure you in. These scam operators are skilled and experienced, and it is easy to fall prey to their tactics. It is crucial that the public takes steps to protect themselves.”
Here are some red flags to watch out for:
- If it sounds too good to be true, it probably is.
- High returns on a low-risk investment.
- “This is only available for you” pitch.
- Pressure to make a quick decision.
- Request for personal financial information.
What you can do to protect yourself:
- Check the registration of the person or…
