By Justin Goulet/LethbridgeNewsNOW

RCMP issue warning for online investment scheme

Mar 16, 2022 | 1:10 PM

Alberta Mounties are warning Albertans of an online Ponzi scheme.

The RCMP’s Integrated Market Enforcement Team (IMET) explained that the scam promises victims a return on investments made to an app which claims to use funds to purchase under-performing products on the website Amazon in order to drive popularity and increase consumer interest.

14 reports have been made to the Alberta RCMP. In total, victims have lost $148,630.

The Canadian Anti-Fraud Centre (CAFC) has identified the app as Aweunion, or Awebuy. Registration for the app is advertised on social media. Users invest their money to be used by the app to purchase unpopular products on Amazon products to increase their relevancy and improve performance through the site’s algorithm. Victims are led to believe that they will receive a commission from their investments, however, they see little to no return and are unable to contact app administrators once the deal is made.

Sergeant Tyson Duff with the RCMP’s IMET said, “we are asking the public to be vigilant in the investments they are making via apps and online platforms that promote significant profit or returns on their finances.”

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“Avoid falling victim to such scams by carrying out your due diligence and thoroughly researching the business you are trusting with your money.”

Albertans are encouraged to verify businesses and charities via the Better Business Bureau’s website. Information about ongoing scams is available from the Canadian Anti-Fraud Centre, or by calling 1-888-495-8501.

Anyone who believes they have been a victim of a scam is asked to call their local law enforcement agency or the CAFC.