Fake GICs
Fraydsters may offer you phony Guaranteed Investment Certificates posing as a legitimate product from a regulated financial institution. Watch for promises of high interest rates, pressure to act fast and payment via wire transfer or cryptocurrency.
Crypto and trading platform scams
Fraudsters may contact you about investing in unregulated platforms or fake crypto investments through a fake trading app or website. Watch for the promise of huge returns, fake performance reports and even celebrity endorsements
Precious metals or commodity scams.
If someone is asking you to invest in gold, silver or other commodities with guaranteed profits, it might be a scam. Watch for promises of safe, tax-free, offshore opportunities and aggressive sales tactics.
Tips to help keep you safe
Stop
X Do not transfer any funds
X Cut off all communication immediately with the suspected scammer
X Avoid giving out banking details, social insurance numbers or other personal information
Check
X Keep a record of all communications, including emails, texts and other messages
X Research the proposed investment carefully through independent sources
X Monitor your financial accounts closely
X Educate yourself about common scams and look for warning signs
X Take your time. Never rush into an investment
Talk
X Contact your financial institution immediately for guidance, advice and support
X Report suspicious activities to authorities
X Consult with a trusted family member or financial advisor for a second opinion
X Warn friends, family members or colleagues who may have also been targeted
