How many ridiculous emails do you get in a run of a day asking for your personal banking information in exchange for a percentage of millions and millions of dollars? I mean, geesh, is it just me or are there more millionaires per capita in Sierra Leone then in any other parts of the world?
These quick scams are usually designed to induce the vulnerable citizen into believing they can inherit a cool $10 million dollars for simply providing your bank account number and other personal information. Unfortunately, people who prey on the vulnerable - usually seniors- have been successful in obtaining this information. Once the scam artist is in possession of your personal information they have access to many unsuspecting things that the victim may not realize. For example, access to your banking account information allows access to your credit card information, mortgage information and credit history. Many scam artists obtain this information so they can sell it over the Internet to other scammers for very little money. In fact, credit cards can go for as little as $10.00, but monetary damage to the card holder can be thousands; sometimes tens of thousands.
The New Brunswick Securities Commission is an arms length Corporation from the Executive Branch of Government which was established in 2004 to regulate the securities industry and to protect investors from unfair, improper and fraudulent practices. Many people may not realize of this Corporation's existence despite its ongoing successful activity. For a good read on some of the Securities Commission's disciplinary hearings see: http://www.nbsc-cvmnb.ca/nbsc/content.jsp?id=79&pid=7
I don't know about you, but those who prey on seniors or the unsophisticated investor should be sanctioned to the fullest limits of the law. The New Brunswick Securities Commission does just that! Sure, tougher penalties can be imposed on these but who says they aren't on their way?