News Release

Vancouver – The British Columbia Securities Commission today launched the first phase of a three-year television, radio and print campaign to educate and warn British Columbians about the dangers of investment fraud. Phase one is primarily focused on the Chinese and South Asian communities who represent 40% and 26%, respectively, of BC’s visible minority population and who have a very low awareness of the BCSC. 

“Our goal is for people to recognize the signs of investment fraud and to protect themselves and their families from becoming victims of fraud,” said Brenda Leong, Chair, B.C. Securities Commission.

Research conducted by the Canadian Securities Administrators confirms that 48% of British Columbians have been approached with a possible fraudulent investment, less than 25% reported it to the authorities and just over 10% became victims of fraud. Half the victims were solicited through an existing relationship of trust, such as a friend, family member or work colleague.

“We did some research three years ago with Chinese-speaking British Columbians. We learned that almost one-third relied on investment information from friends and family, making them vulnerable to potential fraudulent investment schemes aimed at groups with tight-knit relationships,” said Brenda Leong.

The campaign will include television in Mandarin, Cantonese and Punjabi and radio in Punjabi, Hindi, Urdu, Cantonese and Mandarin, supplemented with full and half page ads. Over the next year, the BCSC will expand the campaign to reach British Columbians across the province. Additionally, the BCSC consumer website, InvestRight, will contain investor protection information and videos in Chinese and Punjabi. The campaign will run from October to March 2012.

“By educating people on how to avoid investment fraud, our “Be Fraud Aware” campaign will help empower British Columbians to protect their dreams. We are also urging people to report to the BCSC information about possible investment frauds to help us shut down these schemes,” concluded Leong.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province.

If you have questions, contact Richard Gilhooley, media relations, 604-899-6713. For public inquiries, call 604 899 6854 or 1 800 373 6393 (toll free).

Learn how to protect yourself and become a more informed investor at www.investright.org