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BBB/Alberta Securities Commission Consumer Tip – Avoid Investment Scams

Posted Wednesday, July 22, 2009
by Bob Kenyon

 

Click for BBB® Accredited Businesses in Central and Northern Alberta that offer Investment Securities

Looking to make up for financial losses felt over the last year? Before you leap into that next "unbelievable" investment opportunity, take some time to check out both the investment and the person selling it.

Taking time to ask questions about an investment can help you determine if the opportunity is right for you. Did you know that one in 20 Canadians is a victim of investment fraud?

Protect yourself and your family from a scam or an unsuitable investment by following these five steps:

  • Know your investment goals
  • Know who you're dealing with
  • Know what you're investing in
  • Know the red flags that could signal a fraud
  • Know where to go for help or more information

The Alberta Securities Commission (ASC) has the tools and resources to help you answer these questions and be a more informed investor.

Check out the For Investors section on www.albertasecurities.com before you invest to find out more information including how to do a background check on an individual or company, the different kinds of investments and red flags to watch for, and how to make a complaint if you think you have been scammed. You can also call the ASC's Public Information Office toll free at 1-877-355-4488.

BBB also recommends checking the Reliability Report, of businesses that you plan to invest with.

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