Geller Law
A Canadian financial regulator has published the following notice. On a personal note, my parents were very sophisticated (former president of Ontario Red Cross and former acting chair of the Ontario Securities Commission) and in there retirement they almost fell for a different impersonation scam. No matter how sophisticated we may be, we are all potential victims.
The first is my summary of the publication in plain language. The second is regulatory speak, though an attempt to be a clear communication:
" CIRO has noticed an increase in schemes where people pretend to be someone else. They are doing this more often now. These tricksters talk to people who invest money. They might act like they are from a government organization or a real company. They might even pretend to be someone who is officially registered.
If you think something seems strange, you should check to make sure the person calling you or sending you an email is really who they say they are. Always double-check this on your own. CIRO will never ask you for information about your bank account, credit card, or copies of your ID papers.
Sometimes, they use a real person's name, but they're not really that person. They only trick you by using a fake email address or phone number. Don't trust information that you didn't ask for. Do your own searching online, and get in touch with the person and the organization directly to make sure it's really them who talked to you.
These tricksters want to act like real groups and professionals. They might send emails that ask for your personal or money information. These fake emails are called phishing emails. Make sure you get rid of phishing emails and don't click on any links. Those links might have harmful stuff that can hurt your computer and take your private information."
and in regulatory speak:
"CIRO has noted a spike in impersonation schemes. In communications with investors, fraudsters impersonate regulators, claim to be associated with legitimate firms, or pose as registered individuals. If you suspect anything unusual, always independently verify that the person calling or emailing you is who they claim to be. CIRO will never ask for your banking or credit card information or copies of identification documents.
Often, the name given is a real individual's name, and the fraud is only revealed by a bogus email domain or phone number. Do not rely on unsolicited information, do your own research online, and contact the individual and the organization directly to confirm it was them who contacted you.
Fraudsters try to imitate legitimate organizations and professionals. They may send fake emails requesting personal or financial information. These are called phishing emails. Make sure you delete phishing emails and do not click on any links. They can carry harmful viruses that may infect your computer and steal your sensitive information.
Investors should also check the background, qualifications and any disciplinary history of investment advisors registered with New SRO or the CSA by checking the free AdvisorReport for advisors registered with investment dealers, or the CSA’s National Registrant Search.
If you believe you have been a victim of this or a similar scam, immediately contact your bank, local police, your provincial securities commission, and the Canadian Anti-Fraud Centre."
