CSA Scam Alert: Investment Scams Imitating Well-known Financial Brands

Back at the end of May 2021, the Canadian Securities Administrations (CSA), issued a warning to Canadians to be vigilant when visiting investment websites.?They have noted an increased volume of scammers who are creating high quality online pamphlets and other financial documents, designed to get you to increase their wealth…not yours.

These pamphlets are designed to get consumers to visit their fake websites and/or call their fake phone numbers.?These websites look nearly identical to upstanding financial institutions, and the phone numbers connect you to fake employees of these institutions.?

To avoid being taken by these false advertisements, it is suggested that you:

·???????Verify contact information directly by searching the internet and calling each firm or financial institution to confirm offers are valid.

·???????Watch for errors and misspellings on pamphlets/websites.

·???????Compare and confirm that websites use the same logos (think resolution, identical pictures, etc.)

·???????Avoid unusual payment methods such as wire transfers.

·???????Check registration – security companies/advisors are required to be registered with Securities Regulators to sell any sort of investment.?Take extra precaution as the targeted firms will be registered.?You need to search for the scammer’s information.

·???????Get independent, professional advice – take some time to confer with someone who is not participating in the online offer, (think lawyer, financial advisor, etc.).?This person(s) should be able to help you determine whether the offer is a legitimate opportunity or not.

·???????Remember, if it sounds too good to be true, it likely is!

Have you come across one of these scams or fallen victim to one? Contact MJH Financial where we will be able to direct you or help you determine where your best interests lie.?Or better yet, we can help you with any of your investment needs.??