FCAA of Sask. warns of insurance scam

Supported By:

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

The Financial and Consumer Affairs Authority (FCAA) of Saskatchewan is warning investors an individual claiming to act on behalf of a company called Loyalty Insurance Group is contacting people who may have invested in unregistered binary options companies “Titan Trade” or “Banc de Binary.”

The company may be contacting investors and telling them that it specializes in helping people get their money back after losing against binary options scams.

Loyalty Insurance Group has contacted at least one Saskatchewan resident and advised them they may be entitled to settlement funds in relation to a class action suit in the United States against “Titan Trade” and Banc de Binary.” The company invited the investor to provide information along with a deposit in order to receive a share of the alleged settlement funds.

Loyalty Insurance Group is not a licensed collection agency in Saskatchewan, nor is it licensed to transact insurance in the province.

Read more at 620 CKRM

This article is summarized by Canadian Fraud News Inc.