Warning About Work From Home Scams During COVID-19 Crisis
The Financial and Consumer Affairs Authority (FCAA) is warning the public about potentially fraudulent ads by companies offering opportunities to work from home as securities traders during the COVID-19 pandemic.
The ads state that traders can keep a large percentage of the profits, and they don’t need experience or a licence; however, the firms demand payment of fees from would-be traders.
In Saskatchewan anyone in the business of trading securities must be registered with FCAA, unless an exemption applies. The FCAA expects that similar scams will continue to increase during the COVID-19 crisis.
Anyone who has information about these schemes is urged to contact the FCAA Securities Division at 306-787-5936.
The FCAA is also warning investors about companies claiming to have products or services that will prevent, detect or cure COVID-19. At this time, there is no vaccine or natural health product that is authorized to treat or protect against COVID-19. Be cautious of any claims that a company has a solution to help stop the pandemic.
Reliable information about COVID-19 is available from the World Health Organization and the Government of Canada.