The number of fraud reports increased exponentially in 2021, according to the Autorité des marchés financiers (AMF), which received nine times more than in 2020.
These frauds and attempted frauds are generally orchestrated by organized and well-structured networks operating for the most part outside of Canada, believes the AMF.
The organization calls for the greatest caution by raising our guard against investment offers on social networks, in particular the exchange of crypto-assets.
During Fraud Prevention Month, the AMF launched two digital campaigns to raise Quebecers’ awareness of attempted fraud and the risks associated with crypto-assets.
“If you are interested in cryptoassets, know that fraudsters are interested in you! Be careful!” warned the AMF in a statement on Wednesday, stating that the campaign will continue throughout the month of March.
“Solicitations on social networks, catchy advertisements, use of influencers to boost the popularity of their tokens: fraudsters use many schemes to lure their victims,” said Louis Morisset, Chairman and CEO of the AMF.
“Prudence and vigilance are the best defenses against fraud, scams and abuse,” added Mr. Morisset.