Investor Notices:
FTX tells court it has evidence Sam Bankman-Fried transferred assets to Bahamas government custody after bankruptcy
FTX in a bombshell emergency court filing Thursday said it has credible evidence that Bahamian regulators directed former CEO Sam Bankman-Fried to gain "unauthorized access" to FTX systems to obtain digital assets belonging to the company after it had filed for...
Met Police chief: If you get a text from us in next 24 hours – you’ve been a victim of fraud
Sir Mark Rowley, the Metropolitan Police Commissioner, has told the public if you get a text from the force in the next 24 hours - you have been the victim of fraud. Scotland Yard's most senior officer acknowledged that the warnings are fraught with problems, because...
Peel police arrest man in alleged ‘romance scam,’ believe there are more victims
A Brampton man has been arrested after allegedly receiving over $10,000 in a “romance scam,” and police believe there may be more victims. In a news release on Thursday, Peel Regional Police said an older adult victim sent money to the suspect to allegedly pay off...
BlockFi prepares for potential bankruptcy as crypto contagion spreads, report claims
Crypto lender BlockFi is making preparations for potential bankruptcy as the crypto contagion spreads to firms heavily exposed to the collapsed FTX exchange, a report has claimed. Last Thursday night Blockfi halted withdrawals of customer deposits,...
Russian-Canadian man arrested, awaiting U.S. extradition for alleged global ransomware crimes
A Russian-Canadian man from Ontario is in police custody and awaiting extradition to the United States for his alleged participation in a global ransomware campaign, the U.S. Department of Justice announced Thursday. Mikhail Vasiliev, a 33-year-old dual Russian and...
At least 20 Billionaires got burnt by Sam Bankman-Fried and FTX cofounder Gary Wang
The FTX wonderkind and his cofounder are no longer billionaires. And the sudden collapse of their cryptocurrency exchange has hit the fortunes of at least 20 of the world’s richest people. When Bahamas-based FTX and its American affiliate FTX U.S. suddenly collapsed...
LSO releases results of investigation into cheating on lawyer licensing examinations
The Law Society of Ontario (LSO) has released the results of its investigation into cheating on the November 2021 lawyer licensing examinations. “The Law Society has taken the appropriate action in the circumstances, given the gravity of the conduct and the evidence...
What happened to FTX? What Canadians should know about the latest crypto collapse
The cryptocurrency industry — and the institutions and investors with billions wrapped up in it — are still coming to terms with the fallout from the collapse of FTX, once one of the largest crypto exchanges in the world. In just the past week, the company has had a...
The fall of crypto exchange FTX is ‘worse than Theranos, worse than Madoff’ as federal probes mount, former SEC official says
The fall of cryptocurrency exchange FTX has drawn numerous comparisons to the collapse of Lehman Brothers, which sparked the 2008 financial crisis. But a former Securities and Exchange Commission official likened FTX to the Theranos and Bernie Madoff debacles....
$515m is stolen from crypto exchange FTX in matter of hours. Is it hackers or an inside job?
Internet sleuths have discovered that $515 million has disappeared from the accounts of collapsed crypto exchange FTX under 'suspicious circumstances.' Company founder Sam Bankman-Fried resigned from FTX on Friday, as the crypto exchange filed for bankruptcy and...
Social media scams continue despite fraud squad warnings
Romance and finance — that’s what gets the heart beating faster. And that’s what appears at the root of most social media scams these days: love or money. Despite repeated warnings from the fraud squad and constant news about social media fraud, the fleecing...
How To Avoid phishing scams
In the past few weeks, the Kimberley RCMP, via their social media page, have been educating Kimberley residents about phishing. The Canadian Anti-Fraud Centre reports that it received 7,190 reports of phishing last year and it estimates that only five per cent of...
New University of Sask. commissioned report tackles ‘poison’ of Indigenous identity fraud
U of S was at centre of Indigenous identity controversy last year. One year after the University of Saskatchewan found itself in the midst of a national scandal around the issue of Indigenous identity, it has released a detailed independent report it commissioned...
Inside the police bust targeting movers accused of scamming customers
The two men had avoided criminal charges for their alleged moving scam, even after years of customer complaints. But when they arrived at their Scarborough, Ont., business park in June, undercover police in more than a dozen vehicles were waiting. The takedown was...
Fraud costs local business nearly thirty grand
A fraudulent purchase has cost a local business almost thirty grand. Perth County OPP received a report of a fraud from a West Perth victim after a transaction that occurred between October 24 and 27. The investigation determined the victim agreed to sell a trailer to...
Phone bank fraud is rising in Canada. How to protect yourself from being scammed
Do you frequently get suspicious texts and calls about your bank account being compromised or notifications about unauthorized charges on your credit card? You’re not alone. Bank fraud is on the rise in Canada and scammers are now using new ways over the phone to...
South Bruce OPP issue warning after residents lose combined $500K in recent scams
South Bruce OPP are warning residents to be vigilant after more than $500,000 was reported lost by Southern Bruce County residents over the past six weeks in various scams. According to a press release from South Bruce OPP, a warning is being issued by police after a...
Nigerian national sentenced to prison for role in romance fraud and money laundering scheme
HUNTINGTON — Kenneth Ogudu, also known as Kenneth Lee, 28, a citizen of Nigeria residing in Columbus, Ohio, was sentenced earlier this month to two years and two months in prison, to be followed by three years of supervised release, for conspiracy to commit money...
Are You a Newcomer to Canada? Watch Out For These Scams
Canada has a reputation for being one of the most welcoming countries in the world for immigrants. But not everyone here wants to see you succeed. For Canada’s current generation of thieves, immigrants — even those who haven’t yet arrived in the country — make ideal...
Fraud rates expected to spike in a recession, Equifax warns
Fraud rates in Canada may have dropped from the levels reached during the COVID-19 pandemic, but Equifax Canada warns that increased financial pressure on Canadians could lead to a spike in fraud. The credit information agency said in a report released Tuesday that...
Canadians down $360 million to scams this year; police warn of social-media fraud
Canadians have lost hundreds of millions of dollars to scams this year, and the Saskatchewan RCMP is warning the public about a trick involving social media accounts that you might normally trust. The Canadian Anti-Fraud Centre's records say $362.7 million has been...