Be an informed investor – Protect yourself from a recent pattern of scams
TORONTO, March 27, 2025 /CNW/ - The Canadian Investment Regulatory Organization (CIRO) is alerting Canadian investors to the ongoing and persistent impersonation of Highgate Group Inc. (Highgate) by scammers. CIRO has previously warned investors about this impersonation, and despite efforts to raise awareness, scams continue to target unsuspecting individuals.
Fraudsters are now using the website HGTradingca.com in addition to previously identified fraudulent domains—highgatetrading.com, highgatetradingai.net, and HGTradingai.net—to deceive and solicit funds from investors. These domains falsely claim to represent the CIRO-regulated firm Highgate. It is important to note that Highgate's legitimate and only domain is www.highgategroup.ca. Any other website should be deemed fraudulent.
CIRO has been informed of a recent case where an individual deposited $1,000 with HGTradingca.com after clicking on an advertisement on Yahoo Finance's homepage. Upon noticing CIRO's investor alert, the individual contacted CIRO to confirm the legitimacy of the website. Investors are urged to remain vigilant, refrain from sending funds, and take necessary precautions to safeguard themselves against impersonation scams.
How Scammers Operate
- impersonating members of Highgate's executive team
- slightly modifying Highgate's head office address
- building rapport on a personal level over multiple conversations.
CIRO has noted a rise in impersonation schemes. These tactics are part of a broader trend of impersonation schemes, where fraudsters falsely claim to represent legitimate firms and registered CIRO members. CIRO strongly urges investors to remain vigilant and independently verify any communication they receive by contacting the firm directly through its verified website and contact details.
To safeguard your investments, always exercise caution and diligence. Verify the authenticity of any communication and report suspicious activities immediately to your CIRO dealer member firm, CIRO or the appropriate Canadian Securities Authorities (CSA) regulator, and the police.
CIRO's Fraud Prevention Month Campaign Encourages Canadian Investors to Be Wary of Scams
As part of Fraud Prevention Month this March, CIRO is sharing resources to help Canadians protect themselves from scams. Learn more here.
Please note that investors can confirm with CIRO's Complaints & Inquiries team to verify the legitimacy of anyone claiming to represent CIRO. All individuals registered to offer financial advice in Canada are listed on the National Registration Search of the Canadian Securities Administrators (CSA).
CIRO's Office of the Investor provides resources to help Canadians avoid investment fraud and protect their financial well-being not only during Fraud Prevention month but throughout the year. See Avoiding Fraud and Protecting Your Investments on CIRO's website for additional information.
If you believe you have been a victim of this or a similar scam, please report it to CIRO and immediately contact your bank, local police, your provincial securities commission, and the Canadian Anti-Fraud Centre.
Please direct all other inquiries to our Complaints & Inquiries team:
1-877-442-4322 (Canada/US),
800-555-2323 (Outside Canada/US),
or by completing our Secure Contact Form
About CIRO
The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.
SOURCE Canadian Investment Regulatory Organization (CIRO)
For media inquiries only: Trisha Utomi, Corporate Communications and Public Affairs, Canadian Investment Regulatory Organization, Telephone: 437-448-7980, Email: [email protected]
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