Investor Alert: Be aware of fraudsters impersonating CIRO, claiming to help investors get their money back

TORONTO, Sept. 12, 2024 /CNW/ - The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors not to be fooled by fraudsters claiming to be employed by CIRO who reference a purported transaction conducted through the Blockchair website. The names used by these imposters include George Boris, Aldo Gomez and Lucas Laso. These individuals are not employed by nor otherwise affiliated with CIRO.

This is an investment recovery scam, conducted through social media apps including WhatsApp, where fraudsters approach individuals who have already fallen victim to a financial scam. CIRO will never require individuals to purchase insurance or pay a fee of any type to recover their losses, nor do we contact people to help them get their money back. CIRO monitors crypto trading in the CIRO approved Crypto Trading Platforms (CTPs) and encourages all crypto investors to consult the list of CTPs that are authorized to do business with Canadian investors. All individuals registered to offer financial advice in Canada are listed on the National Registration Search of the Canadian Securities Administrators (CSA). You can also check with CIRO's Complaints & Inquiries team to verify the legitimacy of anyone claiming to represent CIRO.

Fraudsters are becoming very sophisticated in their use of technology, so investors should always independently verify the information they find on the Internet or that they receive by email or social media apps. For example, a list of dealers CIRO regulates is available on www.ciro.ca. Do not rely on unsolicited information and always check the background, qualifications and disciplinary history of investment advisors registered with CIRO or the CSA by checking the free AdvisorReport for advisors registered with investment dealers, or the CSA's National Registrant Search.

CIRO's Office of the Investor publishes information to help investors keep their investments safe. See Avoiding Fraud and Protecting Your Investments.

If you believe you have been a victim of this or a similar scam, please immediately contact your bank, local police, your provincial securities commission, and the Canadian Anti-Fraud Centre. If you are a victim of a CIRO-impersonation scam or a scam claiming CIRO regulation, please also report it to CIRO. 

Please direct all other inquiries to our Complaints & Inquiries team: 
1-877-442-4322 (Canada/US), 
800-5555-2323 (Outside Canada/US), 
or by completing our Secure Contact Form

SOURCE Canadian Investment Regulatory Organization (CIRO)

For media inquiries only: Joanna Nicholson, Manager, Corporate Communications and Public Affairs, Canadian Investment Regulatory Organization, Telephone: [phone], Email: [email protected]