News Release
Danger lurks on information highway for unwary investors, Hyndman tells 2001 Financial Forum
-
Date:
2001-02-01 -
Number:
2001/02
Released: 02/02/01 Contact: Dean Pelkey
NR 01-02 (604) 899-6880 or
(BC only) 1-800-373-6393
Vancouver -- Investment fraud has gone high tech and moved into cyberspace, says the chair of the British Columbia Securities Commission.
"The vast reach of the Internet allows crooks to set up shop anywhere in the world and troll the globe for victims," Doug Hyndman says.
"Traditional stock scams like unregistered trading, pump and dump, misrepresentations, pyramid schemes, offshore investments and ponzi schemes are simply being repackaged and resold via the Internet. But people continue to fall for them."
Hyndman will speak about problems the Internet poses for investors when he delivers the opening address for the 2001 Financial Forum at 9:30 a.m., Friday, February 9 at the Vancouver Trade and Convention Centre. Admission is free.
"The BCSC is devoting more and more resources to investigating and tracking down scams that originate over the Internet," Hyndman said.
"The bottom line is, we can't be everywhere. The Internet is too big so we need to encourage investors to use caution and not be blinded by hype."
What: Doug Hyndman speaking on Investing and the Internet
When: 9:30 a.m., Friday, February 9
Where: 2001 Financial Forum, Vancouver Trade and Convention Centre
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities and exchange contracts within the province.
NR 01-02 (604) 899-6880 or
(BC only) 1-800-373-6393
Vancouver -- Investment fraud has gone high tech and moved into cyberspace, says the chair of the British Columbia Securities Commission.
"The vast reach of the Internet allows crooks to set up shop anywhere in the world and troll the globe for victims," Doug Hyndman says.
"Traditional stock scams like unregistered trading, pump and dump, misrepresentations, pyramid schemes, offshore investments and ponzi schemes are simply being repackaged and resold via the Internet. But people continue to fall for them."
Hyndman will speak about problems the Internet poses for investors when he delivers the opening address for the 2001 Financial Forum at 9:30 a.m., Friday, February 9 at the Vancouver Trade and Convention Centre. Admission is free.
"The BCSC is devoting more and more resources to investigating and tracking down scams that originate over the Internet," Hyndman said.
"The bottom line is, we can't be everywhere. The Internet is too big so we need to encourage investors to use caution and not be blinded by hype."
What: Doug Hyndman speaking on Investing and the Internet
When: 9:30 a.m., Friday, February 9
Where: 2001 Financial Forum, Vancouver Trade and Convention Centre
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities and exchange contracts within the province.