New ASC Resource Helps Seniors Protect Their Retirement

CALGARY, March 23 /CNW/ - The recent economic downturn has resulted in many media stories about Ponzi schemes and other investment frauds. As part of Fraud Prevention Month, the Alberta Securities Commission (ASC) is launching Investment Fraud: How to Protect Your Retirement, a new investor resource for seniors.

"Studies have shown that anyone can be a victim of investment fraud. However, seniors have less time to recover from the negative financial impact of an investment fraud," says ASC's Executive Director David Linder. "This resource is designed to help seniors identify what tactics are used by fraudsters so they can protect their retirement and avoid investment fraud."

The new resource focuses on investment fraud scams that are introduced via cold calls, friends and family and investment advertisements. Using this tool, seniors will learn how to recognize, check out and report any suspicious investment scams.

The ASC is encouraging seniors across Alberta to take advantage of this resource and will be sending DVDs of the resource to more than 500 seniors' centres and groups in Alberta. The resource will also be available on the ASC website, under For Investors - Courses & Resources, and the ASC YouTube channel.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

For further information: For Media Inquiries: Mark Dickey, Senior Communications Advisor, [phone]; For Investor Inquiries: ASC Public Inquiries, Toll Free 1-877-355-4488