Your baby boomer clients should be aware that they are top targets for investment fraudsters, according to the Alberta Securities Commission (ASC).

The regulator released its list of top investor risks for the year ahead on Friday, which includes familiar threats such as unregistered dealers, pump and dump schemes and binary options scams, but also points out that simply belonging to the “baby boom” generation represents a key risk.

“Baby boomers are the largest and wealthiest generation in Canada’s history, making them a lucrative target for scam artists,” the ASC notes. Beyond their wealth, the regulator says that the low returns for many assets over the past few years is sparking a common fear within members of this group, which are generally aged between 50 and 70, that they have not saved enough for retirement. This, in turn, may make boomers more susceptible to scams promising high returns and low risk, “which is a key red flag of fraud.”

Another top risk for 2016, according to the ASC’s enforcement team and public inquiries office, which compiled the list, is investors turning to social media for information, advice, or investment recommendations. Online sources can provide “misleading and untrue information contributed by scam artists,” it warns.

The ASC also reports that many investors have recently been victimized by binary options scams. “Many of the platforms on which binary options trade operate overseas and are not registered with or regulated by the ASC,” it notes. This connects to another major threat that the ASC cites: unregistered investments, salespeople and companies.

Finally, the ASC warns that people are being asked to pose as shareholders, directors or public company officials as part of arrangements that are actually illegal “pump and dump” schemes.

“The reason the person is asked to represent the company is that the fraudsters need someone with a clean record,” the ASC notes. “When the scam is eventually uncovered, the names of those posing as company representatives will forever be linked to fraud even if they were unaware of the scheme.”

To avoid falling prey to fraudsters, the regulator calls on investors to do their homework.

“Knowledge is power. Educating yourself and asking lots of questions about an opportunity before investing is an important step in protecting yourself and your financial future, ” said Alison Trollope, director of communications and investor education at the ASC.