Beware the Green Gremlin of Investment Fraud
Competition Bureau, Ontario Securities Commission team up on video with tips on how to recognize, reject and report investment scams
March 31, 2016 — OTTAWA, ON — Competition Bureau
Using a touch of humour to deliver a serious message, the Competition Bureau and the Ontario Securities Commission (OSC) have created a new video that aims to help Canadians recognize fraudulent investment schemes and keep their hard‑earned money out of the hand of scammers.
Promises of getting rich quick, doubling your money, as well as high‑pressure sales tactics are often the warning signs that something is too good to be true. The Bureau and the OSC will be sharing the video via social media including the Bureau’s YouTube channel.
The release of the video marks the end of Fraud Prevention Month 2016, the month‑long campaign organized by the Bureau and more than 100 partner organizations in the Fraud Prevention Forum, which also includes the OSC.
The Bureau and the OSC have a long‑standing working relationship and mutual interest in protecting Canadians from fraudulent business practices while working to foster fairness, innovation and confidence in the marketplace.
- In 2014, the Bureau and the OSC signed a Memorandum of Understanding aimed at developing a framework for cooperation that will assist in the effective delivery of each agency’s mandate.
- Since that time, the Bureau and the OSC have assisted one another in investigations, litigation or other enforcement actions.
- Additionally, the Bureau and the OSC have undertaken joint education or advocacy initiatives aimed at preventing Canadians from becoming the victims of fraud, including regular participation in fraud chats on Twitter.
"We hope that Canadians find this video instructive and helpful as they make informed investment decisions. The Ontario Securities Commission has been, and continues to be, an invaluable partner in the fight against fraud and in protecting consumers from unscrupulous business practices."John Pecman
Commissioner of Competition
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The Competition Bureau, as an independent law enforcement agency, ensures that Canadian businesses and consumers prosper in a competitive and innovative marketplace.
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