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Protecting Your Retirement

Protecting Your Retirement. Recognizing, avoiding and reporting fraud and financial abuse. We’re the New Brunswick Securities Commission. We’re here for you! Work to protect investors Develop and enforce securities regulation Act on your complaints

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Protecting Your Retirement

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  1. Protecting Your Retirement Recognizing, avoiding and reporting fraud and financial abuse

  2. We’re the New Brunswick Securities Commission We’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

  3. 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

  4. What is investment fraud? • Deception • Expectation of potential for high returns • A real a serious concern in NB

  5. 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!

  6. Common Scams • Not being registered with us • “Private” or “Special Deals” • Hot news items or products

  7. Spot a Scam • Unrealistic Returns / no risk • Tax-Free / Off shore • Insider information

  8. 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

  9. 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.” 

  10. 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

  11. 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

  12. 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

  13. 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.

  14. Let’s stay in touch! Facebook:www.facebook.com/4NBInvestors Website: www.investinknowingmore.ca Phone (Toll Free in NB): 1 (866) 933-2222 Email: info@nbsc-cvmnb.ca Twitter: www.twitter.com/4NBInvestors

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