Alberta Securities Commission (ASC)
The Alberta Securities Commission is the regulatory agency responsible for administering the province’s securities laws. At WSAC, we share the ASC’s mission: to foster a fair and efficient capital market in Alberta and protect investors.
UPDATES FROM OUR FRIENDS AT ASC
As part of our commitment to financial wellness and seniors’ fraud prevention, we’re excited to partner with the ASC to bring you valuable resources and updates. From time to time, we’ll be highlighting investment tips and fraud alerts from their organization to help you make informed decisions and stay safe from financial scams.
Below is the update from the ASC!
Protecting our seniors: How to prevent elder financial abuse
By Damilola Ibirinde – June 5, 2025
June is Seniors Month in Canada, a time to recognize the value, resilience, and continued contributions of older adults in our communities. It’s also an opportunity to talk about one of the fastest-growing threats to their well-being: elder financial abuse.
According to the 2024 CSA Investor Index, 36 per cent of Canadians say they are aware of at least one instance of elder financial abuse, up from 29 per cent in 2020. This rise signals that more Canadians are paying attention to the financial vulnerability of older adults. It is also a reminder that this is a growing issue, and now more than ever, we need to be vigilant and recognize the signs of financial abuse with older loved ones we care for.
Financial abuse may not be immediately obvious, but the earlier it is identified, the better the chance of limiting the damage and preventing it from happening to others. Learn about elder financial abuse and how you can help prevent it.
From text to pitch: How messaging apps have become a hotbed for investment scams
By James MacTavish
A polished social media ad and a friendly invite to an “investors” messaging group might seem like an exciting first step towards a lucrative financial opportunity. But wait, this could be the bait of a well-orchestrated scam. According to the Canadian Anti-Fraud Centre, in 2024, Canadians lost $310 million to investment fraud – with many scams taking place online, including on social media networks.
Fraudsters commonly promote and sell their investment scams to potential victims through advertising on popular social media platforms and apps. These ads commonly promote fake “experts” or “advisors” who offer investment opportunities with high returns and the reassurance of little to no risk.
Upcoming workshops and events
Monday, June 16, 2025 | 6:30 p.m. – 7:30 p.m.
Virtual event | World Elder Abuse Awareness Day: Recognizing and avoiding fraud in partnership with the Edmonton Public Library
Register here>
Tuesday, June 24, 2025 | 10:00 a.m.- 2:00 p.m.
Virtual event | Starting your investment journey in partnership with the Strathcona County Library, Fort Saskatchewan Library and Leduc Public Library
Register here>
Tuesday, July 8, 2025 | 6:30 p.m. – 7:30 p.m.
Virtual event | Starting your investment journey in partnership with the Edmonton Public Library
Register here>
Investment Caution List
Did you know The ASC provides a searchable list of companies and individuals that are not registered in Alberta but appear to be engaging in activities that require registration under Alberta securities laws, or may be an investment scam.
This article was originally published on the Alberta Securities Commission’s (ASC) investor education website CheckFirst.ca. The ASC is the regulatory agency responsible for administering the province’s securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate, and harmonize the regulation of Canada’s capital markets.
