New Brunswick regulator reports increase in suspected fraud

New Brunswick’s Financial and Consumer Services Commission (FCNB) is reporting an uptick in suspected investment fraud after finding in a survey it has conducted that 38% of investors in the province believe they have been approached about a fraudulent investment, which is up from 34% in 2016.

As a result, the FCNB will be operating kiosks at several events during the summer — including events celebrating Canada Day (July 1), New Brunswick Day (Aug.7) and Acadian Day (Aug. 15), among others — in an effort to raise investor awareness. The regulator will also be holding contests as part of its online trivia game over the summer.

“Our programs are helping to make New Brunswickers more aware of fraudsters, but sadly, there are still con artists looking to cheat innocent people out of their hard-earned savings,” says Marissa Sollows, senior education co-ordinator at the FCNB, in a statement.

“Fraud has impacts that go beyond the pocketbook,” she adds. “It is important to realize the role financial health plays in our overall wellbeing. We have resources to help people make informed and safe money decisions, no matter where they are in life.”

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