TORONTO, Aug. 14,
2024 /CNW/ - The Canadian Investment Regulatory
Organization (CIRO) is warning Canadian investors not to be fooled
by fraudsters impersonating CIRO to recover funds they claim were
lost during an unauthorized or erroneous transaction. The
fraudsters use email addresses with the handle
@cirocanada.com and a phone number from Alberta. Fraudsters also use fake documents to
impersonate CIRO, where they misuse CIRO's logo and the name of
CIRO's Chief Executive Officer. The documents and communications
name Emily Fitz who is not employed
nor otherwise affiliated with CIRO.
The fraudsters claim that a victim has already been a victim of
a financial fraud, and falsely asserts that CIRO
investigative operations were authorized to freeze an incoming
transaction for the victim's safety. The fraudsters claim that CIRO
is prepared to assist in the recovery of the associated funds. This
is an investment recovery scam where fraudsters approach
individuals claiming the victims have already fallen victim to a
financial scam. CIRO will never require individuals to purchase
insurance or pay a fee of any type to recover their
losses.
Investors can confirm with CIRO's Complaints &
Inquiries team to verify the legitimacy of anyone claiming to
represent CIRO. All individuals registered to offer financial
advice in Canada are listed on
the National Registration Search of the Canadian
Securities Administrators (CSA).
Fraudsters are becoming very sophisticated in their use of
technology, so investors should always independently verify the
information they find on the Internet or that they receive by email
or social media apps. For example, a list of dealers CIRO
regulates is available on www.ciro.ca. Do not rely on
unsolicited information and always check the background,
qualifications and disciplinary history of investment advisors
registered with CIRO or the CSA by checking the
free AdvisorReport for advisors registered with investment
dealers, or the CSA's National Registrant Search.
CIRO's Office of the Investor publishes information to help
investors keep their investments safe. See Avoiding
Fraud and Protecting Your Investments.
If you believe you have been a victim of this or a similar scam,
please immediately contact your bank, local police,
your provincial securities commission, and the Canadian
Anti-Fraud Centre. If you are a victim of a
CIRO-impersonation scam or a scam claiming CIRO regulation, please
also report it to CIRO.
Please direct all other inquiries to our Complaints &
Inquiries team: 1-877-442-4322 (Canada/US), 800-5555-2323 (Outside
Canada/US), or by completing our Secure Contact Form
SOURCE Canadian Investment Regulatory Organization (CIRO)