What is investment fraud in the age of COVID-19?


2020-05-15 14:56 PDT

At a time when you spend majority of time at home and most of your time is spent on your computer, tablet or phone and constant pop ups and news articles speaking about how the market is at an all time low, a thought crosses your mind…maybe it is time to invest. You might have a lot of investment knowledge, little or next to none but the same thought should be on everyone’s mind, is this a legit investment?

Some common themes of investment fraud the RCMP is seeing are:
Ways to Protect Yourself from Investment Fraud
When to Contact the Police

If you are a victim of fraud in which you have incurred a financial loss and/or given out your personal information call your local police to report the incident. Details of your interaction with the fraudster can be helpful when reporting these crimes to the police. This would include such things as phone numbers, email addresses and any communication with the suspect which can often be obtained through photographs or screenshots of the online conversation.

If you have not been a victim of the fraud but you suspect that a suspect is attempting to scam you please report this to the Canadian Anti-Fraud Centre at 1 888-495-8501.

Helpful Links

Canadian Anti-Fraud Centre – Investment Fraud:

Canadian Anti-Fraud Centre - COVID-19 Fraud:https://antifraudcentre-centreantifraude.ca/features-vedette/2020/covid-19-eng.htm

The Bank of Canada - Fraudulent Investment Scheme: https://www.bankofcanada.ca/2019/06/fraudulent-investment-scheme/ 

British Columbia Securities Commission: https://www.bcsc.bc.ca/News/News_Releases/2020/23_Canadian_securities_regulators_warn_public_of_coronavirus-related_investment_scams/

British Columbia Securities Commission – investRIGHT: https://www.investright.org/fraud-prevention/

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BC RCMP Communications

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