Finance The final word: if you spot (or suspect) a scam… Come across an “opportunity” that doesn’t seem quite right? Friend or family member told you about an investment that sounds more than a little fishy? There’s really only one thing you need to do: report it to the regulatory authority in your jurisdiction. As in, right now. Unfortunately, a lot of people don’t. Instead of talking about it, or calling the authorities, or challenging a suspected fraudster with tough questions, they keep their suspicions to themselves. If they find themselves caught up in a scheme, they don’t talk about it because they feel shame that they were “taken in.” If they find out that their family members were suckered, they keep quiet in order to protect the privacy of those involved. Always remember: fraud thrives in secrecy. Like a cancer, it spreads because victims don’t know it’s there and, therefore, can’t take concrete steps to stop its spread and eradicate it. That’s why every investor out there − you, me, our friends and families − all have an obligation to speak out about fraud; to ask questions when we suspect it, to call it by name as soon as we see it, and to warn others about it if we come across it. When it comes to investment fraud, we really are all in this together. When we talk to others about fraud, when we warn others about it, whenwe pass onwhat we’ve learned and teach others how to protect themselves − what we’re really doing is protecting ourselves. That’s the best way we can keep fraudsters out of our portfolios and put them where they belong: in jail. CSANews | WINTER 2020 | 33
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