The Manitoba Securities Commission is calling on investors to help stop investment fraud by reporting any suspicious activity to regulators.

The MSC says that fraudsters prey on the reluctance of victims to report fraud. “The victim of an investment fraud may feel too embarrassed or ashamed to come forward and report it,” said Len Terlinski, MSC investigator. “The perpetrators of investment fraud count on this. When a victim does not report it the fraud will continue and others will be victimized.”

Moreover, fraud victims will likely be targeted again, too. Terlinski notes that, “… once a person is victimized in an investment scam they are more likely to be approached and fall victim a second time.” The MSC reports that, among Canadians who have invested in scams, 25% are repeat victims.

“There is greater likelihood of shutting these operations down when we all work together to stop this type of crime,” adds Terlinski, and the MSC strongly encourages investors to report any suspicion of investment fraud.