Watch out for investment scammers on social media. Criminal groups will target you by becoming your ‘friend’ and trying to initiate a close relationship. They will usually tell you exactly what you want to hear and gain your trust over weeks or months before convincing you to ‘invest’ in their AMAZING investment opportunity. They will prompt you to invest as much money as possible until the scam is uncovered, and then disappear with your cash.

Investment scammers may convince you that you are close friends or even in a relationship, but this connection is fake. These scammers have looked at your social media profile, they have learned about your personality and interests to gain your trust.

In some cases, investment scammers will pose as celebrities, using AI-generated videos as proof. Any investment advice that appears to be from a celebrity should be considered a scam until proven otherwise.

You can avoid investment scams by:

• Refusing investment advice from an online ‘friend’ or celebrity you have never met in person
• Ensuring you fully understand the investment before you invest!
• Ensuring you have exclusive control of your online investing account before you transfer funds in
• Investing through a trusted, Canadian organization with a physical presence, like Coastal Community Private Wealth Group (which also offers online investing through Qtrade Guided Portfolios)

Contact Coastal Community right away if you suspect you have sent money to an investment scammer. We will attempt to recover your funds when possible, and give you some tips to keep yourself safe moving forward.

Let’s work together to prevent fraud

Coastal Community works around the clock to safeguard your accounts. If you suspect fraud, click here to report it right away.

Learning how to recognize fraud is the first step to protecting yourself.