Smart Shoppers – Avoid Investment Scams
March 23, 2010

Looking to make up for financial losses felt over the last year? Before you leap into that next "unbelievable" investment opportunity, take some time to check out both the investment and the person selling it.

About 38% of Canadians say they have been approached by a possible fraudulent investment while 48% of BC’ers say they have been approached. This 10% higher than the national average!

Taking time to ask questions about an investment can help you determine if the opportunity is right for you.

Protect yourself and your family from a scam or an unsuitable investment by following these five steps:

  • Know your investment goals
  • Know who you're dealing with
  • Know what you're investing in
  • Know the red flags that could signal a fraud
  • Know where to go for help or more information

The BC Securities Commission has the tools and resources to help you answer these questions and be a more informed investor. Go to: www.investright.org before you invest to find out more information including how to do a background check on an individual or company, the different kinds of investments and red flags to watch for, and how to make a complaint if you think you have been scammed. You can also call the BCSC's toll free at 1-877-355-4488.

BBB also recommends checking the Reliability Report, of businesses that you plan to invest with.

Click for BBB Accredited Businesses in Mainland British Columbia that offer Investment Advisory Services

For more advice on evaluating work-at-home companies and schemes, join us

on March 27, 2010 at Metropolis at Metrotown Mall from 1130am to 1pm, as the Better Business Bureau and BC Securities Commission present Smart Shoppers, a one day event that brings celebrity money group, the Smart Cookies, who will provide a fabulous multimedia presentation about consumer protection. Ask an expert: Representatives from BBB, BC Securities Commission, Consumer Protection BC, and other fraud prevention experts will also take your questions. Bring your old document for free shredding by Shred-it. For more: www.smartshoppersbc.org