March 3, 2009
SAINT JOHN (CNB) - March is Fraud Prevention Month, and New Brunswickers are being urged by the New Brunswick Securities Commission (NBSC) to Invest In Knowing More about stopping investment fraud.
In these stressful economic times, the NBSC says, New Brunswickers must take the time to understand each investment opportunity before making a financial commitment. Unscrupulous persons masquerading as investment professionals are becoming increasingly sophisticated in their attempts to scam investors.
New Brunswickers should realize that answering a fraudulent solicitation by telephone or e-mail could cost them more than just money. Loss of trust, decreased social interaction, increased stress and higher blood pressure are some of the side effects of fraud reported by Atlantic Canadians.
"The risk of fraud is magnified as investors seek higher returns in today's troubled markets," said Rick Hancox, NBSC executive director. "Answering the phone could potentially cost you your life savings. Be aware of the red flags of investment fraud, and call us to report any suspicions."
New Brunswickers should watch out for the following red flags if they receive unsolicited telephone calls or e-mail:
The NBSC urges New Brunswickers to help stop investment fraud. Report all suspicious e-mail or telephone investment propositions to the commission: e-mail, email@example.com; telephone, 1-866-933-2222; or www.investinknowingmore.ca.
The NBSC is the Crown Corporation that regulates the securities industry in this province. It is funded indirectly by investors through industry. Its mandate is to protect investors from unfair, improper or fraudulent practices and to foster fair and efficient capital markets as well as confidence in those markets.
MEDIA CONTACT: Michelle Robichaud, communications, New Brunswick Securities Commission, 506-643-7045 or 1-866-933-2222, e-mail: Michelle.Robichaud@nbsc-cvmnb.ca.