Are you at risk of becoming a victim of financial fraud? A
simple 10 minute quiz will help answer that question.
The test is interactive. It is designed to test investors’
knowledge of investment fraud and to encourage them to watch out for warning
signs.
The North American Securities Administrators Association (NASAA) and the
Canadian Securities Administrators (CSA) published the interactive
Investment Fraud Awareness Quiz on the NASAA website,
www.nasaa.org.
The 12-question quiz takes about 10 minutes to
complete and a score and results are generated immediately.
According to Christine Bruenn, President of NASAA, “billions are lost to
investment fraud every year. From the Yukon Territory to Miami, con artists
don’t discriminate – they target men, women, the elderly and minorities.
Investors need to be aware of the warning signs for fraud, where to turn for
information and what protections they have.”
“We want to give investors the tools they need to protect themselves,” said
Steve Sibold, Chair of the CSA. “This quiz not only tests investors current
knowledge of scams and frauds, but is designed in such a way as to increase
their financial literacy at the same time.”
NASAA’s Bruenn reinforced the need for investors to contact their securities
regulator to check out investments and promoters prior to handing over any
money. “Canadian and state securities regulators make disciplinary records of
all registered persons available to the public and can confirm that investment
products and salespeople are properly registered. One quick call to a
securities regulator can save you a lot of grief down the road.”
In the U.S., the Facts on Saving and Investing Campaign takes place throughout
the month of April. The campaign is in its sixth year and consists of various
educational programs focused on finances, saving and investing. (Your state)
securities regulator (list activities) during the Campaign to educate
(audience) about investing and avoiding investment fraud.
In Canada, regulators participate in Investor Education Month, This year,
provincial and territorial securities regulators announced the national winner
of the first edition of the Test Your Financial I.Q. Contest, gave
presentations to numerous community groups, and visited schools across the
country to raise awareness of the importance of money management skills.
NASAA, the oldest international organization devoted to investor protection,
was organized in 1919. It is a voluntary association with a membership
consisting of the 66 state, provincial and territorial securities
administrators in the 50 states, the District of Columbia, Canada, Mexico and
Puerto Rico. In the U.S., NASAA is the national voice of the 50 state
securities agencies responsible for investor protection and the efficient
functioning of the capital markets at the grassroots level.
The CSA, comprised of the thirteen provincial and territorial securities
regulatory authorities, administer the Canadian Securities Regulatory System
to protect investors and give Canada an efficient and effective securities
market.
For more information contact:
Jerry Munk, NASAA, (202) 737-0901 x 114
Joni Delaurier, CSA, (403) 297-4481
