VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/06/13 -- Editor's note: There are two photos and one video associated with this press release.
Across Canada this March, institutions, organizations and individuals are embracing the tagline "Recognize it. Report it. Stop it." in support of Fraud Prevention Month. Educating and empowering the public with the tools and information needed to recognize the investment fraud warning signs are critical first steps in protecting against financial scams. To address this, the British Columbia Securities Commission's (BCSC) InvestRight program recently launched two new tools that both engage and inform the public to protect against investment fraud:
-- An easy to use guide specifically geared towards retail investors who are considering private placement or small business/start up investments: Guide to Investing: The private placement market for retail investors-- A new video series 'David vs. the Be Fraud Aware App' aimed at demonstrating the power of the 'Be Fraud Aware' mobile app in spotting potential investment fraud, protecting against it and reporting it.
The InvestRight 'Guide to Investing' specifically addresses and assists individuals considering investment in the private placement market. The guide explains the difference between public and private markets, how the private market works, and points out the risks of business failure and/or investment fraud that interested parties should be aware of.
The guide encourages potential investors to examine the business plans, management, leadership and profits of a company prior to investment. It points to potential pitfalls of investing in start-up companies, which often pose a high risk to retail investors due to the fact that they have limited disclosure obligations, investors cannot easily sell their securities, and they are susceptible to failing.
The 'David vs. the Be Fraud Aware App' videos, found on YouTube and befraudaware.ca, includes three short clips demonstrating the ability to use the Be Fraud Aware mobile application for iPhone and iPad to access real-time news, information and on-the-go protection against fraud. The videos depict David, a scam artist, relaying exciting information about suspect investment opportunities, while simultaneously showing navigation through the application to expose his offer as fraudulent. The use of the app renders David powerless.
The InvestRight 'Guide to Investing' and video series join a host of already existing BCSC resources that combine entertainment and education to protect the public, including befraudaware.ca, the Be Fraud Aware app, additional videos, quizzes and more.
A 2012 National Investment Fraud Vulnerability Report, commissioned by BCSC, found that 1-in-5 Canadians (50+), are vulnerable to a potentially fraudulent investment offer, and 23% of British Columbians said they had been a victim of fraud, pointing to a need for additional emphasis placed on education about the investment fraud warning signs.
During Fraud Prevention Month and beyond, the BCSC remains committed to helping these at-risk individuals stay informed with timely investor education and investor protection news, alerts about scams happening in British Columbia, and unbiased information on new investment products or emerging fads. Watch Twitter for the hash tag #BeFraudAware during Fraud Prevention Month for news and tips on how to avoid investment fraud.
To view the first photo associated with this press release, please click on the following link: http://www.marketwire.com/library/20130304-bcsc1.jpg
To view the second photo associated with this press release, please click on the following link: http://www.marketwire.com/library/20130304-bcsc2.jpg
To view the video associated with this press release, please click on the following link: http://www.youtube.com/watch?v=JxhYD138xsU&list=PLD2B0401E24FCDF9A&index=1
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