Half of B.C. millennial women at risk of investment fraud: survey

Only 13 per cent of seniors are at risk, the securities commission found

  • Mar. 6, 2018 7:55 a.m.

Almost half of millennial women said they were interested in a fraudulent investment offer, according to a poll released by the British Columbia Securities Commission this week.

The BCSC asked 500 people if they were interested in an investment offer that “guaranteed” returns of up to 25 per cent at “no risk.”

Survey results found that although the claim had several warning signs of investment fraud, 47 per cent of women aged 18-34 said they would look into the offer.

Just over one-third of men in that age bracket had the same opinion.

Of the general population, 26 per cent of respondents said that the investment offer was “worth looking into.”

That number was pushed down by older residents: of those aged 55 and over, only 13 per cent were interested in the fraudulent offer.

That number has halved since 2012, when 26 per cent of residents 55 and over were vulnerable to investment fraud.

“Investors should always be skeptical of anyone offering a risk free investment with an unusually high return, because there’s no such thing,” said director of communication and education Pamela McDonald.

“We encourage investors to look carefully at every investment they make, but also to listen to your gut. If something doesn’t make sense, or doesn’t feel right, we encourage you to contact the BCSC.”

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