News release

Beware the Grinch of holiday investment scams

December 23, 2024 - Calgary, Alberta
From: Federal Policing Northwest Region

Content

With the holiday season fast approaching, the RCMP Federal Policing Northwest Region’s Integrated Market Enforcement Team and Provincial Financial Crime Team would like to remind Albertans to be cautious when considering financial investments this holiday season.

Keep your investments merry and bright by sticking to reputable platforms:

When it comes to investment scams, fraudsters will use various methods of solicitation including:

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

How can you better protect yourself from these types of scams? Here are some helpful resources from the Alberta Securities Commission (ASC):

• 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

Don’t get wrapped up in holiday cryptocurrency scams:

Cryptocurrency scams and fraud attempt to steal money, personal and financial information. Fraudsters will offer you cryptocurrency buy-ins promising a high rate of return and in a short amount of time. Instead, the victim will lose their investment and sometimes their personal and financial information.

Cryptocurrencies also operate independently of a central bank and are currently unregulated in Canada. To better understand scams related to cryptocurrencies 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! 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.”

- Supt. Chan Daktari Dara, Officer in Charge of Financial Integrity and Cybercrime – Alberta, RCMP Federal Policing Northwest Region  

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.
 

Contacts

Alberta RCMP Media Relations
780-509-3970