d of the
nt Risks of 2020
stor & Industry Education, Alberta Securities Commission
chieve their financial and retirement
too good to be true, it probably is.
Retirement
Earn More
onomy, scam
arget those
r retired to play
tresses around
ey encourage
t traditional
s plans (e.g.,
RRSPs) for
the promise
ignoring tax
ded risk of
d’ investment.
e offering
pportunities,
romising high
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ship between
enerally, the
ial reward, the
he number of
g to private,
ents marketed
he rise. Often,
osition the
‘exclusive
ow the wealthy
,’ which is just
ales tactic. Take
wisely.
esn’t Matter,
m Doing
offering
investments in Alberta must be
registered with the ASC, and
lack of registration is a key red
flag of fraud. Yet, eighty per
cent of Albertans do not check
the registration of their adviser.
Albertans can quickly and easily
verify the registration of any
adviser or organization by visiting
the ASC’s consumer website
Checkfirst.ca.
It’s Just a Loan
Reports of investors being
promised better and safer returns
by loaning money through
something called a ‘promissory
note’ is on the rise. The fraudster
claims that the promissory note
is not a security, so they don’t
have to be registered with the
ASC. They may claim that it’s safe
because it’s backed by assets like
real estate. In reality, it’s a security
and if you’re not on title, the loan
isn’t secured — more importantly,
the ‘loan’ may be just a scam.
Understanding the latest
investment fraud trends and
expanding your financial
knowledge will put you on
the right track. To build your
investing savvy, visit the ASC’s
consumer website Checkfirst.ca
to access a wealth of free,
unbiased tools and resources. ●
news&views SUMMER 2020 | 17