Foreign exchange fraud will be discussed by law enforcement and regulatory agencies at the fourth annual White Collar Crime Symposium in Saint John, N.B. on December 10. The symposium is hosted by the New Brunswick Securities Commission

“Enabled by the internet and with the promise of high returns, forex trading is on the rise in Canada,” said Jake van der Laan, Director of Enforcement with the NBSC, in a release. “Consumers should be aware that forex trading is still somewhat of a new frontier, particularly when dealing with entities in international locations with little or, in some cases, no regulatory controls.”

At the symposium, van der Laan will make a presentation about forex trading including: how the market works, how fraudsters take advantage of the market, the red flags to watch out for and how investors may be approached.

Participants representing the RCMP, municipal law enforcement agencies, the insurance and pensions regulators, Revenue Canada and other provincial regulators, will also learn about skimming, hear examples of red flags from the NBSC’s compliance officer, get an update on civil forfeiture and review case examples of fraud prosecutions under the Securities Act.

“Sharing market intelligence and expertise among enforcement and regulatory agencies enables better co-operation and more effective action against those who break the law,” said Rick Hancox, executive director of the NBSC.

The NBSC hosts the symposium annually as an opportunity for law enforcement and regulatory agencies to exchange information about recent developments in the investigation and prosecution of white collar crime.

IE