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Bulletins - Consumers

  • Consumer Bulletin: An investor’s guide to understanding investment suitability and working with an investment advisor

    Investing helps to grow your savings, meet your financial goals and secure your financial future, but investing also involves risk and potential for loss. While all investors are interested in maximizing their gains and minimizing their losses, it’s typically not possible to do both at the same time. Generally, higher potential for returns means higher potential for losses. Investing wisely involves balancing your unique financial objectives and risk tolerance, as well as understanding the pros and cons of a wide range of different investments, account types and tax implications. 

  • Consumer Bulletin: Things to consider before you accept a balance transfer offer

    Credit card issuers (including banks, credit unions or other financial companies) often try to attract new customers to their cards by offering low interest rates on amounts transferred from other cards. The special promotional rates are typically offered for a limited time. After the promotional period, interest rates generally increase significantly.

  • Consumer Bulletin: Understanding Fraud Protection

    Financial fraud is rising – we all see reports of it every day in the news and our social media feeds, but it can be difficult to appreciate the risks and impacts of fraud when we have not had first-hand experience. It is important for everyone to understand how financial frauds take place and how to remain vigilant for ourselves and our loved ones. Opting out of financial services is not possible – these services are an essential part of managing our money and securing our financial future. Understanding how to participate in the system and protect ourselves is the key to avoiding becoming a victim.

  • Consumer Bulletin: Cryptocurrency scams increasingly targeting and exploiting Canadians

    A growing number of Canadians are interested in investing in new categories, such as cryptocurrency, but these emerging technologies and platforms are unfamiliar to most investors, giving fraudsters the advantage when they are looking for people to target. According to the RCMP, fraud involving cryptocurrency rose 400 per cent between 2017 and 2020. What had been hundreds of cases (734) in 2017 jumped to thousands of cases (7,598) in the first eight months of 2020, causing losses of almost $11 million dollars to Canadians since the onset of the pandemic.

  • Consumer Bulletin: Be aware of the risks of DIY investing

    More Canadians are choosing to be self-directed or do-it-yourself (DIY) investors than ever before.

  • Consumer Bulletin: Take care when considering mutual funds with DSCs

    Deferred sales charges (DSCs) are fees that mutual fund investors pay to the mutual fund company if they sell the mutual fund within a certain time after purchasing it.

  • Consumer Bulletin: Sometimes fraudsters are people we know

    Canadians have good reason to fear getting scammed.

  • Consumer Bulletin: Validate a power of attorney before it is needed

    It is something none of us wants to think about – what will happen if I or someone I care about becomes ill and needs assistance with our finances?

  • Consumer tips for resolving a complaint with your bank or firm effectively

    During times of economic uncertainty, people often feel stressed about their finances. They spend more time thinking and worrying about money. Many will face unexpected expenses or loss of employment and lose the sense of security they had with their banks or firms. This may lead to concerns about being treated fairly.

  • Online scams are cheating a growing number of consumers out of their savings

    Romance and employment scams are the most common online scams we see at OBSI. According to the Canadian Anti-Fraud Centre, Canadians lost more than $22.5 million to romance scams and more than $5 million to employment scams in 2018.


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