Know the signs of investment scams, police warn Mississauga and Brampton residents

Mississauga | Brampton | Crime | Police |

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Published July 11, 2023 at 9:18 am

investment scam mississauga brampton
Photo by Liza Summer

Be aware of the signs of investment scams, police warn Mississauga and Brampton residents.

“Scammers trick and coerce you into investing in fraudulent investment schemes,” the Peel Regional Police Fraud Bureau said in a tweet today (July 11). “Protect yourself by knowing the signs of investment scams.”

Cryptocurrency and investment scams can be prevented with a few easy checks, the Ontario Securities Commission notes.

There are several red flags of investment fraud, such as if the financial advisor promises high returns with little or no risk; suggests there is a “hot tip or insider information” or applies pressure to buy right away, according to the commission.

Before investing, check if the person asking for your money is registered. Search the person’s name and company on the Canadian Securities Administrator’s national database here.

Ontario Securities Commission also warns of crypto fraud schemes and suggests people work with a registered crypto asset trading platform.

A list of registered crypto asset trading platforms is found here.

Before handing over money, check for current scams and warnings here. The Canadian Anti-Fraud Centre also collects information on fraud and current scams affecting Canadians.

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