$65K lost to online trading scam: OPP
A Haldimand County resident lost $65,000 after falling for an online trading investment scam, according to Ontario Provincial Police (OPP).
The fraud was reported to police on Friday.
The OPP said the victim registered with what appeared to be a legitimate online trading website in July 2024 and, shortly after, was contacted by someone claiming to be a financial advisor who convinced them to increase their investments.
“Over time, further recommended investments were made to withdraw funds [and] a brokerage fee was demanded,” OPP said in a media release.
The victim eventually realized they had been scammed and contacted police.
“Frauds and scams are attempted daily through online platforms, phone calls, letters or faxes. Fraud is a multi-million-dollar enterprise that will only cease when the perpetrators stop profiting,” OPP said.
Police also shared the following tips to avoid falling victim to similar investment scams:
- Research and verify the legitimacy of investment opportunities and the entities offering them.
- Exercise caution when confronted with investments promising high returns with little risk. Overly optimistic claims may signal a potential scam.
- Avoid sharing sensitive information with unfamiliar parties.
To learn more about fraud and cybercrime prevention contact the Canadian Anti-Fraud Centre at 1-888-495-8501 or visit www.antifraudcentre-centreantifraude.ca.
If you have any information regarding this investigation, contact the Haldimand OPP at 1-888-310-1122.
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