Photo Credit: CIRO

⚠️💵 Investor Alert: Account Intrusion Scams

Monday, 31 March 2025 02:31.PM

The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors about an emerging scam known as account intrusions. This type of fraudulent activity is a growing concern as fraudsters employ sophisticated tactics to access and exploit investment accounts.

Account intrusions occur when criminals gain unauthorized access to online accounts through phishing emails, fraudulent texts, malicious links, or harmful apps. Once inside, these criminals can execute unauthorized trades or transfer funds to their untraceable accounts. Victims are often deceived by urgent requests to update their passwords or click malicious links, with fraudsters impersonating trusted (and often) CIRO-regulated firms and organizations.

CIRO emphasizes that vigilance is essential to combat this type of fraud. Investors should remain alert and take proactive steps to safeguard their accounts.

Protect Yourself Against Account Intrusions:

Investors are strongly encouraged to:

Verify the authenticity of emails and texts by checking the sender's address and contacting the organization directly using official channels.
Hover over links before clicking to confirm they lead to a legitimate website — avoid clicking if you're uncertain.
Enable multi-factor authentication (MFA) for all online accounts to add an extra layer of security.
Use spam filters to prevent most spoofed emails from reaching your inbox.

If you believe you have been a victim of this or a similar scam, contact your CIRO-regulated firm or CIRO (if the scam is in an investment dealer account), and immediately contact the Canadian Anti-Fraud Centre.

March is Fraud Prevention Month

CIRO's Office of the Investor is committed to helping Canadians identify and avoid investment fraud during Fraud Prevention Month and throughout the year.

CIRO provides educational tools and resources to help Canadians protect themselves. Check out Schemes, Scams and Swindles, a new investor education and protection series with resources to prevent account intrusions and other frauds.

See Avoiding Fraud and Protecting Your Investments on CIRO's website for additional information.

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

SOURCE: Canadian Investment Regulatory Organization (CIRO)

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