The New Brunswick Securities Commission today released a list of the most common investment traps for New Brunswick investors.

The commission urges the public to invest in knowing more when presented with investment opportunities. “Investment scams can be devastating for the investor who falls victim, both financially and emotionally” says Rick Hancox, executive director of the NBSC, “scams come in many disguises, but they all share a common goal of separating victims from their money.”

The NBSC is especially concerned about baby boomers, who, with retirement on the horizon, are prime targets for investment fraud. Small business owners and entrepreneurs are also surprisingly susceptible to investment fraud, given their culture of trust and cooperation, it warns.

The top scams include: Ponzi schemes, unlicensed individuals selling securities, accredited investor exemption abuse, unregistered investment products, prime bank scams, internet fraud, affinity fraud, oil and gas scams, pump and dump schemes, recovery rooms (which are are usually a follow up to a pump and dump), scam artists using high commissions to entice independent dealers into selling investments they know little about, personal information scams, and phishing.