March is Fraud Prevention Month, a national spotlight that seeks to help Canadians recognize, avoid and
report fraud. One of the growing and most insidious forms of fraud are investment scams, where
fraudsters prey on those looking for worthwhile opportunities or just the answer to challenging financial
circumstances. According to data from the Canadian Anti-Fraud Centre, the amount of money reported
lost to investment scams has multiplied nearly 20 times from 2019 to 2023.
Fraudsters work hard to repurpose their investment scams and leverage connections they can make
online and in person. While it may be hard to know and remember the latest investment scams, there
are some great resources and tools provided by the Alberta Securities Commission (ASC) to help you
better safeguard your hard-earned money.
Consult the ASC’s Investment Caution List
To help inform and protect investors, the ASC created the Investment Caution List. This list outlines
companies and individuals that the ASC has identified as appearing to be engaging in activities that
either require registration under Alberta securities laws or may be investment scams. It is worthwhile to
check this frequently updated list before working with any individual or firm to ensure that they are not
present on the list.
Subscribe to the ASC’s Investor Alerts
Investors wanting to stay ahead of emerging fraud trends and market misconduct can also subscribe to
the ASC’s Investor Alerts, which are delivered directly to their inboxes. These alerts provide investors
with up-to-date information on unregistered individuals and firms violating Alberta and/or Canadian
securities law. ASC’s Investor Alerts also help warn the public of common fraud tactics.
Strengthen your investment literacy with CheckFirst.ca
Whether you’ve just started investing or have been on your investment journey for years, the ASC’s
investor education website CheckFirst.ca provides a wealth of important information. You can find
resources and tools to help you invest suitably for yourself, recognize the red flags of fraud and conduct
registration checks on individuals or firms you plan to work with.
Building your knowledge is an ongoing effort, which is why the ASC shares a new CheckFirst article each
month covering an investing concept, misconceptions about investing, investment fraud trends and
frequently asked questions. Even better, you can subscribe to the CheckFirst newsletter at
CheckFirst.ca/Subscribe for the latest articles, investor alerts and upcoming investor education programs
in the community.
Explore the ASC’s 31 Days of Investment Fraud throughout March
In recognition of Fraud Prevention Month, the ASC recently started sharing its new 31 Days of
Investment Fraud information. Every day of the month, the ASC will highlight a common investment
fraud scam or red flag and detail how Albertans can safeguard their money.
Alongside this information, found on CheckFirst.ca/Fraud_Prevention, visitors can test their knowledge
with the Don’t be fooled by fraud quiz and download or print the complete 31 Common Investment
Fraud Scams and Red Flags infographic. This infographic gives investors a comprehensive list of what to
look out for when it comes to investment scams and how to best avoid them.
Throughout March, visitors who explore the page CheckFirst.ca/Fraud_Prevention and subscribe to the
CheckFirst newsletter will also be entered in a draw to win one of three pre-paid MasterCards worth
$150.
Building your investor knowledge and leveraging the free tools and resources provided by the Alberta
Securities Commission can be a strong combination to protect yourself. Remember, if you are suspicious
about an investment you were offered or believe you or someone you care for was a victim of an
investment scam, contact the Alberta Securities Commission. You can contact the ASC public inquiries at
1-877-355-4488 or email inquiries@asc.ca.
