Senior Fraud Victim Again, Loses $12K After Initial $750K Loss

Warning Signs – How to protect yourself:

• Be careful when sending cryptocurrency; once the transaction is completed, it is unlikely it can be reversed.
• Be wary of individuals met on social media who attempt to educate and convince you to invest into crypto currency.
• Canadians need do their research to ensure they are using reputable and compliant services.
• Some fraudsters will use the name of legitimate companies to lend credibility to the fraud and convince victims to send money. Verify email addresses, URLs, phone numbers and their physical address. Verify if the investment companies are registered with your Provincial Securities Regulator or the National Registration Search Tool (www.aretheyregistered.ca).
• If you receive a suspicious or odd investment-related message from a trusted friend or relative, reach out to them through a different means of communication to confirm that it is them. Scammers can use hacked accounts to gain victims’ trust.
• Beware of fraudsters asking you to open and fund new crypto accounts as they will direct you to send it to wallets they control – Don’t do it!
• Question why someone is reaching out to you about an investment offer: Is this a conversation I would usually have with an unknown person? Does it make sense to invest in an opportunity based on the communication I had? Should I feel pressure or urgency when deciding to invest?