TORONTO - As part of the launch of Senior's Month in Ontario, the Ontario Securities Commission has announced an innovative three-way partnership with Ontario's Seniors' Secretariat and the Volunteer Centre of Toronto to provide information to Ontario seniors about investment scams and frauds.

"We are very pleased to be partnering with Ontario's Seniors' Secretariat and the Volunteer Centre of Toronto to bring our investor protection messages to Ontario seniors," said OSC Chair David Brown, at the Toronto press conference today. "All too often we find that the victims of investment scams are senior citizens who can not afford to lose their life-savings. These presentations will arm seniors with the information they need to protect themselves."

The new seminar program "Protect Your Money: Schemes, Scams and Flimflams" will be made available in across Ontario through the support of local Members of Provincial Parliament. The seminars are one hour long and will be available in both French and English. Content will include information about the role of the OSC in providing protection to investors, examples of common investment and consumer frauds and scams, warning signs, and information about what seniors can do to avoid becoming a victim.

Seasoned volunteer presenters with the Volunteer Centre of Toronto, will be trained by the OSC on the ploys and practices of investment scam artists and will deliver the presentations across the province.

For more information about this program please call the Ontario Seniors Infoline Toll Free 1-888-910-1999 or information on how to protect yourself from frauds, scams call the Consumers Services Bureau - Toll Free 1-800-889-9768

The Government Watchdog says "Watch out for these signs":

Telephone Fraud

• You have won a "prize" but have to pay money to receive it
• A "charity" refuses to send written information before you give them money
• A 'bank" wants your to help catch a criminal
• A stranger wants to "verify" your credit card number or other personal information

What to do:

• Hang up the phone
• Never give out personal information over the phone unless you've placed the call yourself
• Never give your bank account information, bank card, or PIN number, or Social Insurance Number (SIN) over the phone
• Report the call to - Phone Busters Toll Free 1-888-495-8501 or your local police Department

Investment Fraud

• A stranger contacts you about an investment
• You are guaranteed high returns with low risk
• Your are encouraged to borrow money to invest
• You are offered insider information

What to do:

• Make sure you thoroughly understand the investment offer
• Get a second opinion on the investment from a trusted advisor
• Report suspected investment fraud to the Provincial Securities Commissions -
• Check the person's record and registration details
• Report Investment Fraud - The Ontario Securities Commission Toll Free 1-877-785-1555

Home Renovation Fraud

• A contractor offers to pave your driveway at a special price that's only good for today
• You are pressured to sign a contract on the spot or pay up front
• A stranger claims to be from a legitimate business and wants to inspect your furnace or attic, or check the water meter
• Someone offers to fix your roof, even through you weren't aware of a problem

What to do:

• Never pay up front for home renovations services
• Take your time - don't give in to high pressure sales tactics
• Call three companies for a written renovation quotes, and consider them carefully
• Check the references of all contractors and see their work
• Report Home Renovation Fraud - Your local Police Department