The BC Securities Commission has launched a campaign to bring awareness to fraud. We like this! As ethical and cautious bookkeepers we agree that there’s just too many fraudsters out there looking to take advantage of everyday people—people, who work hard for their money, who need the money to take care of their families, who have earned the right to use their money to live comfortably.
On the BC Securities website, you’ll find a magnifying glass that rolls over each untruth (and we’d consider slimy) catchphrase, to reveal the truth. For example, one catchphrase is “Guaranteed investments, with tax-free 12% – %15 returns.” The truth, as BC Securities puts it: you can defer taxes, but you can’t avoid paying them. Our thinking is, if there was a way to avoid paying taxes (legally), it would not be a secret long, and it would become common knowledge, not a secret.
The next is, “This opportunity won’t last! Your friends and family are profiting from this exclusive money-making venture. You’ve heard about the results. Don’t get left behind! Wow, pretty hard sell; this is the type of wordage used by scam artists to force someone into making a decision fast – without thinking – which is the wrong way to make any financial decision.
“No risk,” we won’t even go there! We should know from experience, there’s no such thing.
Next we have “Get insider information and profit like the pros!” Red lights and a loud alarm should be going off in your head when you hear this. As we all know from such big scammers like Enron, insider information (insider trading) is illegal, and no ‘pro’ will touch this unless they’re scamming you. The BC Securities writes, “Scam artists will try to convince you that they have access to exclusive information.” Think of it, if they have insider information, what is motivating them to share it with you? What’s in it for them? Don’t think anyone who shares insider information is doing it from good will.
Please be careful with your savings, and if you want to invest, trust a reputable investor. Get a referral. Call us, we can offer you a trustworthy contact.
Leave a Reply