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News Release

InvestRight Video Series and 'Guide to Investing' serve as new investor protection tools during Fraud Prevention Month

  • Date:

    2013-03-06
  • Number:

    2013/13

Vancouver - Educating and empowering the public with the tools and information needed to recognize the warning signs of investment fraud are critical first steps in protecting against financial scams. In support of Fraud Prevention Month, the British Columbia Securities Commission's InvestRight program recently launched two new tools that both engage and inform the public to protect against investment fraud:

The InvestRight 'Guide to Investing' addresses and assists individuals considering investment in the private placement market. The guide explains the difference between public and private markets, how the private market works, and points out the risks of business failure and/or investment fraud.

The guide encourages potential investors to examine the company’s management team, financial situation, viability as a business and prior financing activity prior to investment. It points to potential pitfalls of investing in start-up companies, which often pose a high risk to retail investors due to the fact that they have limited disclosure obligations, investors cannot easily sell their securities, and they are susceptible to failing.

The 'David vs. the Be Fraud Aware App' videos, found on YouTube and befraudaware.ca, include three short clips demonstrating the ability to use the Be Fraud Aware mobile application for iPhone and iPad to access real-time news, information and on-the-go protection against fraud. The videos depict David, a scam artist, relaying exciting information about suspicious investment opportunities, while simultaneously showing navigation through the application to expose his offer as fraudulent. The use of the app renders David powerless.

The InvestRight 'Guide to Investing' and video series join a host of already existing BCSC resources to protect the public, including befraudaware.ca, the Be Fraud Aware app, additional videos, quizzes and more.

During Fraud Prevention Month and beyond, the BCSC remains committed to helping British Coumbians stay informed with timely investor education, as well as investor protection news and alerts about scams happening in British Columbia. Watch Twitter for the hash tag #BeFraudAware during Fraud Prevention Month for news and tips on how to avoid investment fraud.

To view the video associated with this press release, please click on the following link: http://www.youtube.com/watch?v=JxhYD138xsU&list=PLD2B0401E24FCDF9A&index=1

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

For media inquiries, 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

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