The Alberta RCMP have published an announcement warning against binary options scams. The warning comes amidst authorities and financial watchdogs cautioning investors against the potentially dangerous scam.
According to Alberta RCMP, a total of 8,317 cases of fraud were reported in the province from January to October last year. Some of the most common scams included romance scams, wire fraud scams, investment scams and merchandise scams, which involves websites selling counterfeit goods from existing retailers at discounted prices.
“Fraud has a devastating impact on individuals, families businesses and to our economy,” said Inspector K.C.A. (Allan) Lai. “The RCMP believes that the best way to fight these types of crime is through awareness because the more you know about a scam, the less likely you are to be victimized.”
“Albertans should immediately report any incident to the appropriate authorities,” said Lai.
Read more at RCMP GRC
This article is summarized by Canadian Fraud News Inc.
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.