Calgary – The Canadian Securities Administrators (CSA) is kicking off Fraud Prevention Month in March by unveiling a number of investing and fraud prevention resources for Canadians.
“The recent economic downturn has created an opportunity for fraud artists to capitalize on investor anxiety” says Jean St-Gelais, Chair of the CSA and President & Chief Executive Officer of the Autorité des marchés financiers (Québec). “The investor tools available on our updated CSA website are designed to help Canadians be vigilant against fraud artists.”
A particular type of investment fraud of which Canadians should be aware of is boiler room scams. The new CSA brochure, Boiler room scams – could you be vulnerable, available on the CSA website, describes:
- how boiler room scams work and what to watch for;
- who is vulnerable; and
- what you can do to protect yourself.
The recently revised CSA website provides investors with a new ‘Avoiding Fraud’ section that includes an online tool to help investors learn how to identify fraud.
The CSA continues to participate as a partner in the Fraud Prevention Forum. Chaired by the Competition Bureau, the Forum works to prevent Canadians from becoming victims of fraud by educating them on how to recognize it, report it and stop it. Throughout the month of March 2009, partners of the Fraud Prevention Forum will be involved in a number of national, regional and local activities supporting fraud prevention.
To find out more about the information and tools the CSA has available to help Canadians identify and avoid fraud, visit the CSA website at: www.securities-administrators.ca.
The CSA, the council of securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.
For more information:
Alberta Securities Commission
Autorité des marchés financiers
British Columbia Securities Commission
Manitoba Securities Commission
Financial Services Regulation Division Newfoundland and Labrador
Securities Registry Northwest Territories
Nova Scotia Securities Commission
Nunavut Securities Offices
Ontario Securities Commission
Office of Attorney General
Prince Edward Island
Saskatchewan Financial Services Commission
Yukon Securities Office