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By rdnewsNOW Staff

RCMP TIPS

Beware the holiday investment scam

Dec 24, 2024 | 9:57 AM

Avoid getting scammed this holiday season by using caution and following the tips below, provided by the RCMP Federal Policing Northwest Region’s Integrated Market Enforcement Team and Provincial Federal Crime Team.

Stick to reputable investment platforms

Fraudsters can use a variety of solicitation methods, including:

• Search engine optimization
• Social media platforms
• Email or text messages
• Phone calls from fraudulent companies
• Digital ads

Here are some helpful resources on how to identify and protect yourself from this kind of scam:

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• Learn more about investment fraud and how scammers operate
• Learn more about the types of investment scams carried out in-person, over the phone or online
• Consult with the ASC’s Alberta-based registrant list and their investment caution list

Cryptocurrency scams

Fraudsters may offer you cryptocurrency buy-ins promising a high rate of return in a short amount of time. Instead, victims typically will lose their investment and may also have their personal and financial information stolen.

Officials remind you that cryptocurrencies operate independently of a central bank and are currently unregulated in Canada. To better understand them and how to protect yourself, consider the following resources:

• Learn more about the red flags associated with cryptocurrency scams
• Consult with the ASC’s Crypto Investment Guide
• Learn some of the tactics a fraudster may use to pressure you into a cryptocurrency scam

“Holiday cheer shouldn’t come at the cost of your savings,” says Supt. Chan Daktari Dara, officer in charge of financial integrity of cybercrime, Alberta, RCMP Federal Policing Northwest Region. “Scammers use the season of giving to prey on trust and urgency. Remember: never send money or share personal information with anyone promising quick or guaranteed returns.”

“Take your time, do your research and stick to reputable sources,” adds Dara.

If you believe you may be a victim of fraud, or are currently being targeted by fraud, please report it to your local law enforcement and the Canadian Anti-Fraud Centre (CAFC) at 1-888-495-8501. Instances of compromised personal and/or financial information should be reported to your bank and credit card company. To learn more about the various types of frauds and scams, please visit the CAFC’s scam webpage.