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Saskatchewan is taking steps to help people avoid investment fraud.
“It is incredibly easy to fall prey to fraudulent investment opportunities,” Dean Murrison, executive director of the Securities Division at the Financial and Consumer Affairs Authority (FCAA), said in a media release. “This campaign will educate residents on the steps they can take to protect their money.”
The campaign started airing in the province in January. It features Harvey White, the director of enforcement with the Securities Division.
“The negative impact of falling for this kind of scam is tremendous, financially but also emotionally,” White said in the release. “It’s important that we educate people, because an informed investor is much less likely to be victimized, and this campaign will play an important role in that regard.”
The campaign said the first step to determine the legitimacy of an investment opportunity is to check the sellers’ registration status, since most legitimate investments need the seller to register with the FCAA.
People who are considering an investment opportunity can check a seller’s status on the FCAA’s website to confirm the legitimacy of the deal.
More information on the Check First, Invest Later campaign can be found here or here.