Elder Abuse: Investment Fraud

My son-in-law said he knew about a project that would double my money if I invested right away. So I wrote him a cheque. That was a year ago, and I haven't received a cent. When I ask him about the project, he doesn't answer my questions.

After retirement, you may depend more on your investment income. If someone tells you about an opportunity to make lots of money quickly with no risk, ask questions. If it sounds too good to be true, it probably is.

Tips:

  • Watch out for anyone who pressures you to decide right away about investment opportunities.
  • Be suspicious when someone promises a quick profit.
  • Get more information and consult a financial services professional before investing.
  • When you check on a company, never use the telephone numbers or Internet sites that the company gives you. Look up the information yourself.
  • Report suspected fraud or scams to the police.

Fraud is a crime. It could happen to anyone. Stay informed.

Quiz:

The following true or false questions may help you learn more about investment fraud.

  1. It is always a good idea to consult a financial professional before you invest.
  2. If an investment opportunity is described in a written document and says there will be a public meeting for everyone who is investing, it is legitimate.
  3. If a document describing an investment
    opportunity contains testimonials from real people, it is legitimate.
  4. Con artists only target people with lots of money.
  1. (T)
  2. (F)
  3. (F)
  4. (F)

Elder Fraud: It's time to face the reality.

For more information:

www.seniors.gc.ca
1-800 O-Canada (1-800-622-6232)
TTY: 1-800-926-9105

© Her Majesty the Queen in Right of Canada — 2014-11-19
Cat. No.: J2-353/2-2009      
ISBN: 978-0-662-06877-8

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