Investment fraud tops concerning list

Investment fraud was number one on the Canadian Anti-Fraud Centre’s top 10 list of reported frauds, based on dollars lost, in 2023. Actual fraud losses are likely much higher, since 90 to 95% of frauds are never reported.

“With over $784 million in reported losses over the last three years, online investment frauds have been devastating for Canadians,” said Jeff Thomson, Acting Officer in Charge at the Canadian Anti-Fraud Centre (CAFC). “Cryptocurrency investment frauds remain prevalent today and were the main cause for the exponential increase in the reported losses. This Fraud Prevention Month, take the time to learn about what to watch for and how to protect yourself from being a victim of investment fraud by visiting the CAFC’s investment fraud page. Follow the CAFC on social media to learn how to Recognize, Reject and Report fraud!”

The Canadian Securities Administrators (CSA) reminds Canadians to watch out for potential investment scams and misleading advice. The CSA encourages investors to verify information sources and work with registered professionals to reduce the risk of becoming victims of fraud.

There are many ways a fraudster might try to lure you into investing. Take a look at 8 common investment scams.

Crypto caution

Many investment scams involve crypto assets. Maybe you saw a video promising you’ll get rich quick if you invest. And then you contact the company, and they promise big returns with little risk. And perhaps after you invested, you get sent money as a proof of the great returns. And so, you invest even more money. But later, when you try to take money out, you can’t. Your money is gone. Find out more about crypto investment scams and how to avoid them.

Spring cleaning your investment portfolio

It’s officially spring, a nice time to enjoy longer days and flowering bulbs. It can also be a timely season to review your investing accounts. It’s a good idea to be aware of the fees you’re paying. You should also know what to look for on your account statements. And check out these tips for spring cleaning your portfolio.

Taxing times

The deadline for individual Canadians to file their personal income taxes is April 30. If you’re eligible for a refund, the sooner you file, the sooner you’ll be able to access your refund. Learn more about how to file taxes. And remember, not filing your taxes or filing late can come at a cost. Check out how to avoid tax penalties and fees.

OSC Dialogue 2024

The Ontario Securities Commission’s signature annual conference convenes business leaders, senior regulators, and international policy experts. OSC Dialogue 2024: Inviting, thriving and secure capital markets takes place on May 22, at the Metro Toronto Convention Centre. The conference will open with remarks by Ontario’s Minister of Finance, the Honourable Peter Bethlenfalvy and feature keynote presentations by American Theoretical Neuroscientist and Entrepreneur, Dr. Vivienne Ming, and Erik Thedéen, Governor and Chairman of the Executive Board of the Riksbank (Sweden’s central bank).

Attendees will also hear from OSC Chief Executive Officer Grant Vingoe who will outline the organization’s new six-year strategic plan. As well, leading experts will share their perspectives on hot topics such as artificial intelligence, capital formation, the investor experience, and enforcement in the capital markets. Registration is now open.

Double trouble: getting conned twice

Anyone can get taken in by a fraudster. There are many ways a fraudster might approach you. They are experts at manipulation. And unfortunately, fraudsters sell their list of victims to other criminals. These secondary scammers promise they can help victims get their money back from the original scammer, only to take even more of the victim’s money.

Saving for short-term goals

Planning a wedding or vacation? If you’re setting aside money for a short-term goal, remember you can save or invest, or both, to reach it. Take a look at tips about financial products that could help you meet your short-term goals.

Regulatory Updates & Initiatives

Here are some recent developments and publications: 

• Canadian securities regulators issued statements on proposed sustainability disclosure standards and ongoing climate consultation. 
• The CSA published updated guidance for investment funds on disclosure practices as they relate to environmental, social and governance (ESG) matters.

Dynamic duo

Managing finances as a couple is important. Every partnership is different, however there are some common money management best practices and practical tips you may want to consider.

Uncertain times: volatility and your portfolio

It is normal for the stock market to fluctuate. It can go up or down. Volatility measures the degree of change in the price of an investment over time. A stock price that fluctuates frequently by significant amounts is considered very volatile. Find out more about volatility and investing.

Warnings & Alerts

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