Minister Sweeney sounds warning to safeguard personal information

George Sweeney, Minister of Government Services and Lands, is warning investors to carefully review and safeguard records of their personal financial information to protect against becoming victims of identity theft.

"Identity theft is an issue in this province. It is incumbent on all consumers of financial products to carefully review monthly brokerage, mutual fund, trade confirmation slips, and other statements when received. Once reviewed, it is also important to safely store copies of these documents for future reference if needed," said Minister Sweeney. "If at any time a statement is not received, an unauthorized or unrecognizable transaction has been made, be sure to contact your broker or adviser.

"Brokerage statements and records are no different than credit card and bank statements.  These all contain valuable personal and financial information and must be kept safe or properly disposed of in a way that prevents others from gaining access to private information."

"Individuals should never rely solely on a third party�s electronic record keeping system for the safety and filing of financial records."

Financial Tips:

• Ensure the receipt of all statements on a timely basis;
• Keep personal notes of all transactions, especially those conducted over the phone or Internet;
• Review all monthly statements carefully to make sure all transactions are authorized; and,
• Question any transaction or item on statements that are not recognized or understandable.

For more investor information and tips on how to better protect yourself against investment fraud and scams, visit the Securities Commission of Newfoundland and Labrador�s website at www.gov.nl.ca/gsl/scon or contact the commission at 729-4189.

Media contact: Jeff Mackey, Communications, (709) 729-4860.

2003 05 23                                      9:00 a.m.