Canadian Anti-Fraud Centre

FTC, Canadian Law Enforcement Agencies Cooperate on Public Outreach to Combat Cross-Border Fraud

Retrieved on: 
Tuesday, April 2, 2024
Canadian Anti-Fraud Centre, Partnership, Canada Post, Social media, Policy, News, Canada Revenue Agency, United States Secret Service, Identity theft, Fraud, Secret Service, Habit, CAFC, Report, Federal Trade Commission, FTC, Cryptocurrency

As it celebrates Fraud Prevention Month, the Federal Trade Commission is joining with consumer protection and law enforcement agencies from the United States and Canada to engage in public outreach aimed at combatting fraud.

Key Points: 
  • As it celebrates Fraud Prevention Month, the Federal Trade Commission is joining with consumer protection and law enforcement agencies from the United States and Canada to engage in public outreach aimed at combatting fraud.
  • The agencies make up a working group of law enforcement agencies, known as the Quebec Strategic Partnership, who partner to identify and combat cross-border fraud, such as imposter, investment, and prize winnings scams.
  • Postal Inspection Service, U.S. Secret Service, Canadian Anti-Fraud Centre, Canada Post, Canada Revenue Agency, and several local police departments in Quebec.
  • In 2023, Canadian consumers submitted the second highest number of reports to the FTC from outside the United States about fraud.

FTC, Canadian Law Enforcement Agencies Cooperate on Public Outreach to Combat Cross-Border Fraud

Retrieved on: 
Tuesday, April 2, 2024
Canadian Anti-Fraud Centre, Partnership, Canada Post, Social media, Policy, News, Canada Revenue Agency, United States Secret Service, Identity theft, Fraud, Secret Service, Habit, CAFC, Report, Federal Trade Commission, FTC, Cryptocurrency

As it celebrates Fraud Prevention Month, the Federal Trade Commission is joining with consumer protection and law enforcement agencies from the United States and Canada to engage in public outreach aimed at combatting fraud.

Key Points: 
  • As it celebrates Fraud Prevention Month, the Federal Trade Commission is joining with consumer protection and law enforcement agencies from the United States and Canada to engage in public outreach aimed at combatting fraud.
  • The agencies make up a working group of law enforcement agencies, known as the Quebec Strategic Partnership, who partner to identify and combat cross-border fraud, such as imposter, investment, and prize winnings scams.
  • Postal Inspection Service, U.S. Secret Service, Canadian Anti-Fraud Centre, Canada Post, Canada Revenue Agency, and several local police departments in Quebec.
  • In 2023, Canadian consumers submitted the second highest number of reports to the FTC from outside the United States about fraud.

KPMG in Canada and Chainalysis team up to help organizations combat illicit crypto transactions

Retrieved on: 
Wednesday, November 22, 2023
Crypto, Cryptocurrency, KPMG, Organization, Risk management, Crime, Fraud, Chainalysis, Ecosystem, Swedish National Forensic Centre, KYT, Government, Knowledge, Law enforcement, Certification, Canadian Anti-Fraud Centre, Blockchain

KPMG in Canada and Chainalysis are teaming up to help meet that growing need by announcing a strategic agreement in which KPMG will join the Chainalysis Solution Provider program.

Key Points: 
  • KPMG in Canada and Chainalysis are teaming up to help meet that growing need by announcing a strategic agreement in which KPMG will join the Chainalysis Solution Provider program.
  • This collaboration will help to further solidify KPMG's expertise in forensic investigations and cryptoassets and blockchain technology," says Kunal Bhasin, partner and Cryptoassets and Blockchain co-leader at KPMG in Canada.
  • KPMG is the first Canadian professional services firm to team up with Chainalysis on forensic investigation services.
  • Globally, cryptocurrency-based illicit transaction volume hit an all-time high of US$20.6 billion last year, according to the Chainalysis 2023 Crypto Crime Report .

Investor Alert: VenDigital Platform (formerly IB Platform)

Retrieved on: 
Tuesday, October 31, 2023
Canadian Anti-Fraud Centre, IIROC, CIRO, Fraud, Research, Investment Industry Regulatory Organization of Canada, Mutual Fund Dealers Association, Canadian Investor Protection Fund, CMC Markets, CSA, Cryptocurrency, Financial adviser

We are issuing this alert further to a scam we were warning about in May (see Investor Alert: IB Pl atform, May 8, 2023) and again in August (see Investor Alert: IB Platform is not affiliated with CMC Markets, August 29, 2023 ).

Key Points: 
  • We are issuing this alert further to a scam we were warning about in May (see Investor Alert: IB Pl atform, May 8, 2023) and again in August (see Investor Alert: IB Platform is not affiliated with CMC Markets, August 29, 2023 ).
  • In communications with investors, VenDigital Platform is implying to be a trading platform regulated by the former Investment Industry Regulatory Organization of Canada (IIROC), and the former Mutual Fund Dealers Association of Canada (MFDA).
  • VenDigital Platform also implies that it is a member of the Canadian Investor Protection Fund (CIPF), by presenting information to investors with regulatory logos and generating fraudulent versions of IIROC's Advisor Report.
  • VenDigital Platform is not a member of CIRO, nor was it a member of the former IIROC or the MFDA.

Sextortion: It's a scam. It's trending. You can make it stop!

Retrieved on: 
Tuesday, September 26, 2023
Online, Communication, Directory, Justice, RCMP, Crime, Life, Special Investigation Service, Parent, Police, Canadian Centre for Child Protection, The Royal Canadian Mounted Police in Quebec, Public Safety Canada, Aggression, Privacy, Computer, Child, Royal Canadian Mounted Police, Canadian Anti-Fraud Centre, Risk, Sensitive, Social media, Caregiver, Tourism, Online shopping, Toy, Drug, Cryptocurrency, Private investigator

It is a crime where anyone, including children, can be victimized through their phones, gaming consoles and computers.

Key Points: 
  • It is a crime where anyone, including children, can be victimized through their phones, gaming consoles and computers.
  • While everyone is at risk of financial sextortion, recent findings suggest that young boys have represented the majority of cases in the last year.
  • It is important to remember that while boys represent the majority of reported victims, anyone can be victimized.
  • Also remember that you are not alone – if this has happened to you, there is help and there is life after images.

Investor Alert: IB Platform is not affiliated with CMC Markets Canada

Retrieved on: 
Tuesday, August 29, 2023
Canadian Anti-Fraud Centre, Fraud, Research, CIRO, CSA, Cryptocurrency

TORONTO, Aug. 29, 2023 /CNW/ - The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by fraudsters claiming to be affiliated with CMC Markets Canada Inc.

Key Points: 
  • TORONTO, Aug. 29, 2023 /CNW/ - The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by fraudsters claiming to be affiliated with CMC Markets Canada Inc.
    Further to a scam we have been warned about in May (see Investor Alert: IB Pl atform, May 8, 2023), IB Platform now falsely claims to be an official branch of CMC Markets Canada, regulated by CIRO.
  • IB Platform is not a member of CIRO, nor is it affiliated in any way with CMC Markets Canada Inc.
    CIRO has noted a spike in impersonation schemes.
  • In communications with investors, fraudsters claim to be associated with legitimate firms, posing as registered individuals or regulators.
  • If you suspect anything unusual, always independently verify that the person calling or emailing you is the person they claim to be.

Investor Alert: Sigma Invest

Retrieved on: 
Thursday, August 24, 2023
Sigma Investments Group, Canadian Investor Protection Fund, CIRO, CSA, Canadian Anti-Fraud Centre, IIROC, Financial adviser, Cryptocurrency

Sigma Invest is not regulated by IIROC or CIRO.

Key Points: 
  • Sigma Invest is not regulated by IIROC or CIRO.
  • We previously warned investors about Sigma Invest Options Inc. in September 2022 (see Investor Alert: Sigma Invest Options Inc., September 29, 2022 ).
  • Investors should know that crypto-asset trading platforms are not the same as regulated marketplaces and may be missing key investor protections.
  • Investors should confirm if investment firms are registered with CIRO and members of the Canadian Investor Protection Fund (CIPF) before investing.

Investor Alert: Time Markets Limited

Retrieved on: 
Friday, August 11, 2023
Research, CIRO, CSA, Canadian Anti-Fraud Centre, IIROC, Financial adviser, Cryptocurrency

On their website ( https://www.timemarkets.com/our-regulation), Time Markets Limited claim that they act like a regulated brokerage.

Key Points: 
  • On their website ( https://www.timemarkets.com/our-regulation), Time Markets Limited claim that they act like a regulated brokerage.
  • In conversations and email communications with investors, Time Markets Limited is falsely claiming to be regulated by and/or monitored by IIROC.
  • All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges.
  • Unregulated crypto-asset trading platforms are different from regulated marketplaces and may be missing key investor protections.

Rental scams becoming increasingly complex and costly as demand for housing reaches a fever pitch

Retrieved on: 
Tuesday, August 1, 2023
Better Business Bureau, Education, Canadian Anti-Fraud Centre, COVID-19, CAFC, Craigslist, SIN, CTV News, ID, Sale, Student, Risk, Fraud, News, Safety, Legislation, Renting, Cryptocurrency, Lease

The time is now for Canada’s rental industry to take decisive action to safeguard renters against increasingly hard-to-detect scams.

Key Points: 
  • The time is now for Canada’s rental industry to take decisive action to safeguard renters against increasingly hard-to-detect scams.
  • Awareness of the threat of rental scams has spread far beyond the rental industry as increasingly complex scams make headlines across the country.
  • For 2022, the Better Business Bureau ranked rental scams as the #7 riskiest scam in Canada , the first time rental scams have made the top 10 list, with 4 out of 10 Canadians who are exposed to rental scams losing money.
  • Canadian renters are becoming increasingly aware of this dire situation as rental scams become nearly unavoidable in the current market.

Investor Alert: Fake Regulatory Bodies

Retrieved on: 
Wednesday, July 5, 2023
Organization, Fraud, Research, CIRO, CSA, Canadian Anti-Fraud Centre, Financial adviser, Cryptocurrency

On their websites, fraudsters claim to serve and regulate licensed Canadian brokers and provide dispute resolution services to member brokers' clients.

Key Points: 
  • On their websites, fraudsters claim to serve and regulate licensed Canadian brokers and provide dispute resolution services to member brokers' clients.
  • These websites appear to be credible and reference complaint processing, dispute resolution and providing redress to aggrieved investors.
  • All investors must be informed and ask themselves important questions before purchasing higher-risk investment products that do not trade on stock exchanges.
  • Unregulated crypto-asset trading platforms are different from regulated marketplaces and may be missing key investor protections.