BMA promotes investor education, protection and online safety
The Bermuda Monetary Authority is using an awareness campaign to highlight the importance of investor education, protection and online safety.
The ninth annual World Investor Week will run until Sunday as part of a global effort to empower investors with access to valuable resources and learning opportunities.
Key themes are technology and digital finance, artificial intelligence, fraud and scam prevention.
These topics will be further complemented by a look at cryptoassets and the basics of investing.
The campaign explores the way technology is changing how financial services operate with a focus on trending issues and topics that impact investors worldwide.
The BMA’s website and social media channels will feature smart investor habits and tips.
The World Investor Week participation is led by the International Organisation of Securities Commission. Each year, IOSCO brings together organisations from more than 100 jurisdictions to drive awareness around trending investment issues.
Smart investor habits include awareness of how digital tools can help make more informed investment decisions.
The BMA said it is important to understand that digital engagement practices, such as copy trading, gamification or fractional trading practices may facilitate investment strategies that are contrary to the investor’s personal financial situation, goals and risk tolerance.
“Know how to distinguish between ‘finfluencers’ who create content for educational purposes and those who act purely for commercial gain,” the BMA said.
They warned that investors should not blindly follow a finfluencer’s recommendations, but instead evaluate the financial content creator’s profile, education and credentials.
The financial organisation said it was important to recognise that while digital brokerage platforms make investing easier, ease of use does not always equate to safety.
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