Securities fraud, or investor fraud, is a serious and widespread problem that can leave victims facing financial ruin, often putting their life savings at risk.
Fraudsters induce their victims to make purchases or sales based on false information, frequently resulting in losses, in violation of securities laws. They often target vulnerable populations, like the elderly, and build relationships with the goal of influencing the victims’ financial decision-making.
To avoid losing thousands of dollars to securities fraud, watch out for opportunities that:
- Claim no risk of guaranteed return
- Have unusually high rates of return
- Are only available to a select number of people
- Involve the transfer of funds outside of Canada, otherwise known as offshore
- Are available for only a short period of time, in other words, get in now or miss out
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