How much do Canadians really know about avoiding investment fraud?
The Investor Education Fund (IEF) aims to find out with its recently launched “Cranial Cash Clash” game, an online financial literacy game released in support of Fraud Prevention Month.
The game is comprised of eight financial “episodes” that are available at www.GetSmarterAboutMoney.ca, either online or through a mobile app for Apple iOS and Android systems. Players of each “episode” are given 30 seconds to answer financial questions, use lifelines and gain points by growing their knowledge base.
During the month of March, players can also take part in the “National Scam Exam Challenge”, which offers up prizes to the three highest-scoring players of the particular fraud “episode”. The challenge allows participants to go head-to-head with players across Canada by using Facebook to submit their scores and track their points.
“Victims of investment fraud lose more than just their savings—they also lose their trust in others and, in many cases, suffer emotional and physical health effects,” says Perry Quinton, IEF vice-president of marketing. “The National Scam Exam Challenge helps Canadians learn to recognize a scam and take steps to protect themselves.”
He adds, “We recognize the need to engage Canadians through interesting, interactive and appealing tools,” says Quinton. “That is what this challenge and game do.”
Visitors to the game website can find information about current scams, as well as information about red flags to avoid.