July 19, 2023: The CAFC is warning Canadians of investment recovery pitch scams. In this type of scam, fraudsters retain a list and contact previous investment scam victims by telephone, email, social media or will use search engine optimization and claim that they can return the funds the victim lost in a previous investment scam. Fraudsters will tell victims that there is a fee for their services and, in some cases, will ask for remote access to the victim's computer or device. In the end, no funds are returned to the victim and more funds are potentially stolen.
- Phone and fax
- Email and text
If you've been a victim of a scam, scammers may target you again with a promise to get your money back.
Scammers will use a number of tactics to steal your financial information or convince you to send money.
Watch out for the following situations that have been reported to the CAFC:
- A previous victim of a tech support scam, who paid scammers a fee to remove an online threat, may get a call from "the company" and told that it's filing for bankruptcy and offering a refund on their services. They ask for access to your computer and for you to sign in to your online banking.
- You get an email claiming to be from a recognized company. The email asks you to call a phone number because "your payment couldn't be processed".
- You are contacted by someone claiming to be from a government department or law enforcement agency. They may ask for your help with a "sting" operation to take down scammers who stole your money.
- You are contacted by someone that says they have recovered your lost funds but to get them back you need to pay an advance fee.
- Never be afraid to hang up the phone
- Never allow an unknown person to gain remote access to your computer/device
- Always have your computer/device serviced by a reputable local business
- Never pay an advance fee to obtain a refund
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