Montréal – The Autorité des marchés financiers (AMF), in connection with Investor Education Month, invites consumers to obtain a free copy of a new guide to help them avoid fraud. The guide was published following a 2007 study by the Canadian Securities Administrators (CSA) which revealed that almost two in five Canadians have at some time been approached with an apparently fraudulent investment opportunity. The study also revealed that only 17% of them reported the incident.
The AMF’s new guide outlines the steps that consumers should follow to determine whether an investment carries a risk of fraud. A detachable checklist is included at the end of the document. The guide also presents 10 classic fraud tactics aimed at consumers.
Citing the CSA’s finding that over one million Canadians have been victims of investment fraud, Anne-Marie Poitras, AMF Superintendent, Client Services and Compensation, noted: “We can facilitate access to relevant, objective and straightforward information for investors who seek support in their decisions. Furthermore, we strongly urge consumers to report any fraud attempt against them to the AMF. By reporting fraud, they can help to reduce the number of fraud victims. Combating fraud is everyone’s business!”
Consumers can obtain a free copy of their personal anti-fraud guide Red-Flagging Financial Fraud by contacting the AMF’s Information Centre or downloading it from the AMF website.
The AMF invites consumers to visit its website, which features an entire section on fraud with information on these and other subjects:
- Investing? Do your homework first!
- Beware of RRSP fraud
- Watch out for securities fraud
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.
— 30 —
Sylvain Théberge: (514) 940-2176
Québec City: 418-525-0337