The Alberta Securities Commission is warning investors to be wary of scams — especially those based on high-profile news stories. The commission has issued its annual list of investor risks for 2017.
- Unregistered sources
While there are some exceptions, anyone selling securities or offering investment advice in Alberta must be registered (online).
- Binary options scams
Binary options are bets on whether the value of an asset will increase or decrease in a fixed time frame. There are no registered binary options dealers in Canada.
- Offshore investments
The commission warns of sending money to companies with “offices” in countries overseas, saying it is a red flag of investment fraud.
- Deceptive online advertising
Scam artists often use social media, text messages and online pop-up ads to promote their fraudulent opportunities.
- Being lured by “the next big thing”
Scam artists often use an emerging industry to lure people in, as there is usually very little information on new companies.
Read more at Global News.