The Better Business Bureau is warning investors not to get duped by fraudsters as we approach the 2016 tax year deadline for RRSP’s.
Communications manager for the southern Alberta branch of the BBB Leah Brownridge told the Alberta Morning News, that investors need to take their time with decisions.
“While it may be very tempting to enter into last minute, quick deals, promises of high returns, it’s really essential to slow down, take your time to ask questions, do the investigative homework before you decide to go ahead and make a financial decision.”
It’s unusual to be promised or guaranteed a high return of investment, and that’s just one red flag to look out for.
“Make sure that it’s not a completely unsolicited offer, you know a phone call out of the blue, a random e-mail or even text message. Those are not the primary ways of communicating that a legitimate financial advisor or professional RRSP investor will reach out to you.”
However the first sign anyone should be looking for is if you’re dealing with a registered financial investor and to make sure they’re registered with the Alberta Securities Commission.
The BBB is partnering with a number of different agencies both local and international and will be releasing a list at the beginning of March of the top ten scams from 2016, as a way to kick of national fraud prevention month.