OSC encourages investors to be vigilant as part of Fraud Prevention Month activities

TORONTO – During the month of March, the Ontario Securities Commission (OSC) will be undertaking numerous activities to help people learn how to recognize, reject and report fraud.

“Anyone can become a victim of fraud, and scammers often take advantage of current events or high levels of investor interest in a sector to find new victims, and separate them from their hard-earned money,” said Tyler Fleming, Director of the Investor Office at the OSC. “That’s why during Fraud Prevention Month we’re encouraging people to do their homework, helping them spot the red flags of fraud, as well as learn ways to protect themselves from fraud.”

During Fraud Prevention Month, the OSC is planning activities to help people educate themselves about fraud:

• Telephone townhall: Ontarians are invited to register for the March 10 telephone townhall. The OSC telephone townhalls are a way for the Investor Office to connect with people across the province in a format similar to a call-in radio show. During the hour-long townhall, OSC staff will share tips on protecting against fraud, accessing free educational resources, and checking the registration of individuals and companies.
• Twitter chat: On March 22, the OSC will host a Twitter chat on financial fraud prevention with law enforcement, community organizations and regulatory partners. Ontarians are encouraged to follow @smarter_money and use the hashtags #FraudChat and #FPM2021 to participate.
• OSC in the Community events: OSC in the Community is an outreach program that takes the OSC’s regulatory mandate from Bay Street to Main Street. During the pandemic and throughout the month of March, OSC staff are continuing to deliver the program virtually. Visit the OSC events page to find the next community outreach session.
• GetSmarterAboutMoney.ca’s COVID-19 & Your Money hub: Investors can find information on the latest pandemic-related frauds and scams as well as links to support resources on the OSC’s consumer education website, GetSmarterAboutMoney.ca.
• Investor News: The OSC will publish new editions of its popular newsletter to help Ontarians stay informed about the latest investor initiatives, topical issues, educational resources, key dates and investor alerts.

Investors are also encouraged to visit the OSC’s interactive microsite GetSmarterAboutCrypto.ca to learn more about crypto asset products and services, the OSC’s role in regulating them, and the risks and opportunities investors should pay attention to before considering this type of investment.

Investors should always check the registration of any person or business trying to sell them an investment or give them investment advice by visiting CheckBeforeYouInvest.ca. Investors can also contact the OSC with any inquiries or complaints

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in the capital markets, and to contribute to the stability of the financial system and the reduction of systemic risk.  Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.ca.

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