While front line health care workers risk their collective well-being in a full out defense against the coronavirus, another round of scammers attempts to take advantage of the circumstances that have placed people in financial jeopardy. Ads circulating offer individuals the chance to work from home selling investments, but the reality is those offers are scams trying to secure phoney fees from unsuspecting participants.

The Financial and Consumer Affairs Authority (FCAA) is warning the public about fake trading companies offering “home brokers” a chance to earn profits from the sale of securities. The scammers demand fees back from the sellers.

The FCAA states that anyone involved in securities trading must hold a license. The securities trade scam joins a list of other fake advertisements circulating since the onset of the pandemic. The trend is expected to increase.

Other ads purport to provide products or services that prevent, detect, or even cure COVID-19. Anxiety is running high enough for people to part with their money in spite of the well-publicized information that no vaccine or cure is currently available.

The FCAA and the Government of Saskatchewan warn consumers about such scams and urge caution about any offer that seems too good to be true. Reliable COVID-19 information is available from the World Health Organization and federal and provincial government health authorities.