Canadian securities regulators kicked off Fraud Prevention Month this month by encouraging investors to be proactive in preventing investor fraud by checking registration. Securities regulators across the country stress that being an informed investor is the best defence against investment fraud. A simple first step in protecting yourself is checking the registration of any firm or individual selling securities or offering investment advice. The Canadian Securities Administrator (CSA) 2012 Investor Index revealed that 60 per cent of respondents with a financial adviser have never completed any form of background check. With almost 30 per cent of Canadians believing they have been approached with an investment fraud at some point in their life and with 4.6 per cent believing they have been a victim of investment fraud, Canadians need to carefully choose who they hand over their money to.
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