The Provincial Government is advising the public about an email scam regarding fraudulent investment schemes currently circulating in the province.

Investment fraud is where someone tries to get you to make an investment decision based on false or misleading information. For example, the scammer may try to get you to buy digital currencies, stocks, bonds, or real estate, or to invest in a business directly. Some investment scams focus on digital currencies like cryptocurrency, where scammers use social media, dating apps, Internet ads or websites to encourage you to act now and get a high return.

The Provincial Government is not in any way involved with promoting or endorsing investment or cryptocurrency schemes.

Claims of huge returns and high-pressure sales tactics are often warning signs for the public that something is too good to be true.

Some signs that an investment opportunity may be fraudulent are:

• The seller claims that you can make a lot of money with little or no risk.
• The seller claims that they have insider information.
• The seller makes you feel pressured to make a quick decision.
• The seller is not registered with the provincial securities regulator.

The public is encouraged to be alert and stay vigilant.

Some tips to protect yourself from falling victim to a scam are:

• Be careful of investment opportunities offered over the Internet or telephone.
• Research the investment opportunity through credible sources.
• Do not provide money or personal information until you have done your research.
• Take your time before making a decision.
• Verify the seller or company is registered with your provincial securities regulator.
• Verify the seller or company is on the National Registration Search Tool.
• Verify if the seller or company has been flagged as a risk to investors on the Investment Industry Regulatory Organization of Canada or with your provincial securities regulator.

Anyone who may have concerns, or who receives a suspicious communication should immediately report it to the Canadian-Anti Fraud Centre or local police.

To contact the Canadian Anti-Fraud Centre, visit their website and use their online reporting tool or call 1-888-495-8501.

The public can also file a report of a misleading or deceptive marketing practice with the Competition Bureau using their online complaint form.

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