International Law

Our Useless Competition Bureau

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The Canadian Competition Bureau who recentlysuccessfully prosecuted Galbraith's Pigeon Ponzi Scheme, and Kippax's Business in Motion Pyramid Scheme, have some advice for you.

Oh, wait a miniute - the Competition Bureau did nothing about the Pigeon Ponzi Scheme or the Kippax's Pyramid Scheme.

I must be confusing them with someone who cares about Ponzi schemes and Pyramid frauds.

Oh, well.

Here is the Competition Bureau's useless advice about fraud.

"The Competition Bureau warned consumers and businesses on Monday to beware of fraudsters readying to rip people off during the recession.

"History has shown that when there is a downturn in the economy, there tends to be an increase in fraudulent activity," Melanie Aitken, the bureau's interim commissioner of competition, told reporters at the launch of Fraud Awareness Month.

The problem is compounded because some people are more open to suspicious pitches in the hope of saving some money, she added."

I have written about this before: in bad economic times, more frauds are discovered and not committed.  

You need good economic times for people to confuse an investment with a gamble.

But it is Fraud Awareness Month in Canada, so stay tuned for more uniformed views.

Full post as published by Misleading Advertising Law on March 02, 2009 (boomark / email).