12 October, Basseterre, Saint Christopher (St Kitts) and Nevis – The Eastern Caribbean Securities Regulatory Commission (ECSRC) performs a very important function as it seeks to protect its citizens and investors while helping to develop the securities market operations.
Speaking on this week’s episode of ECCB Connects, Chief Executive Officer of the ECSRC, Alousia Faisal, shares information about how ordinary citizens can protect themselves from scammers. Faisal says, that some of the signs and common tactics that scammers use include the prospect of gaining wealth quickly; the urgency of investing; and the promise of guarantees. She adds that any guarantees promised without any risks should be a cause for concern, as investments by nature are risky and there are times when your investment returns will fluctuate. Several channels are used by these scammers including emails, WhatsApp messages and telephone calls.
Faisal emphasises that when shares are sold publicly on the Eastern Caribbean Securities Exchange (ECSE), there is a prospectus. In instances where shares are offered online, investors should conduct proper research by checking with the regulators of that company to ensure that the investment is legitimate. She points out that the ECSRC offers licenses to traders and this information is accessible on their website. She confirms that only these persons who are listed are authorised to trade.
To view the full discussion, log on to the ECCB’s YouTube channel and Facebook Page: ECCB Connects.