MoneySmart Manitoba releases real fraud calls to raise awareness about the prevalence of investment fraud

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Net Patrol International Inc.  Data Investigation and Forensic Services
Bankruptcy and Insolvency Trustees

MoneySmart Manitoba has launched a campaign called “Time to Call Out Fraud” to raise awareness about the prevalence of investment fraud and explain why people don’t speak up about the occurrence. The initiative coincides with Financial Literacy Month which takes place every November.

Canadians will hear how scammers play on people’s emotions, pressuring, and manipulating to defraud people. Releasing these tapes provides real examples to inform and educate the public of the techniques that these individuals use.

 Ainsley Cunningham, Manager of Education and Communications with the Manitoba Financial Services Agency said “this is an important opportunity for Canadians to hear what fraud sounds like. It is so easy to fall victim to these scams and that needs to change” and “these scammers are professionals. They know just how to make people feel at ease before they put on the pressure and steal your money. Listen to these calls, learn and protect yourself.”

Many of these incidents go unreported for several reasons. However, fraud cases have increased throughout the COVID-19 pandemic with people reporting losses from $250 to $600,000. Victims range in ages, from people in their 20s to the elderly in their 80s, but are elders are normally targeted.

It is recommended that people seek second opinions when they encounter these “investment opportunities,” or call 1-855-FRAUD-MB. The Time to Call Out Fraud campaign will be live for the entire month of November.

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About MoneySmart Manitoba
MoneySmart Manitoba is an online education system where Manitobans can grow their financial knowledge. It provides unbiased, vital information and tools to help build confidence and tackle day-to-day money issues.

About the Manitoba Financial Services Agency
MoneySmart is brought to you by the Manitoba Financial Services Agency (MFSA) which is a Special Operating Agency of the Government of Manitoba. It has two divisions, the MFSA regulates securities, real estate, cooperatives, credit unions, and insurance in the province through its two divisions: the Manitoba Securities Commission (MSC) and Financial Institutions Regulation Branch (FIRB).

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