Protecting Your Retirement

www.investinknowingmore.ca

Protecting Your Retirement

Recognizing, avoiding and reporting fraud and financial

abuse

www.investinknowingmore.ca

We’re the New Brunswick Securities CommissionWe’re here for you!

• Work to protect investors• Develop and enforce securities

regulation• Act on your complaints• Provide free educational information,

resource, tools and presentations

www.investinknowingmore.ca

Stop Financial Abuse

• How you might be approached

• Common Scams

• Spot a Scam and a Scam Artist

• Recognize the warning signs of financial abuse or exploitation

www.investinknowingmore.ca

What is investment fraud?

• Deception

• Expectation of potential for high returns

• A real a serious concern in NB

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How you might be approached:

• Investment Seminars – “Free lunch”– Sales pitches / High Pressure– Inappropriate investments

• Fraud Among Friends– Affinity fraud– Trust– Promoters (victims) may not even know

it’s a scam!

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Common Scams

• Not being registered with us

• “Private” or “Special Deals”

• Hot news items or products

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Spot a Scam

• Unrealistic Returns / no risk• Tax-Free / Off shore• Insider information

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Spot a Scam Artist

• Pushing complicated or unknown products

• Focus on the silver lining or avoid answering questions

• Pressure you to act fast• Play on your emotions• Try to become fast friends

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Common lines used

• “Act now before this offer expires.”• “You’ve won a prize—you just have to

pay the taxes/ fees.”• “Keep this information to yourself –

we don’t want everyone getting in on it.”

• “Your friends and family are already invested and making money.”

• “Other people in your community are already turning a profit.” 

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Stop Financial Abuse

How can I recognize financial abuse?• Warning signs or red flags of financial

abuse can show up in a person’s history or in their current behaviour.

• Some of these red flags may make a person more vulnerable to financial abuse

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Red Flags in History

• Social Isolation

• Bereavement

• Dependence on another for care

• Alcohol or drug abuse

• Financially responsible for adult child or spouse

• Depression or mental illness

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Red Flags in Behaviour

• Unusual fear or sudden change in feelings about a particular person or people

• Change in appearance / poor hygiene

• Accompanied by an overly protective or dominating caregiver

• Change in ability to perform daily living activities

• Discrepancy between standard of living and financial situation

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What happens next?

• If any of these red flags raises suspicions, use the “Financial Concerns Checklist” to have a conversation.

• Make it safe and non-threatening.

• Report suspected financial abuse to the police, or investment concerns to the New Brunswick Securities Commission.

www.investinknowingmore.ca

Let’s stay in touch!

Facebook:www.facebook.com/4NBInvestors

Website: www.investinknowingmore.ca

Phone (Toll Free in NB): 1 (866) 933-2222

Email: [email protected]

Twitter: www.twitter.com/4NBInvestors