Canadian Regulator Issues Investor Alert on CIRO & IIROC Impersonators

According to an investor alert issued by the Canadian Investment Regulatory Organization (CIRO), Canadian investors are being warned about scammers impersonating CIRO and its predecessor IIROC, the pan-Canadian self-regulatory organization that oversees all investment dealers, mutual fund dealers, and trading activity on Canada’s debt and equity marketplaces. 

These fraudsters are using URLs like ciroo[.]ca and iirocc[.]ca to deceive investors. Subtle misspellings in the domains are a key indicator of fraud. Additionally, fraudsters may create email addresses linked to these domains to further scam individuals. 

As fraudsters become more sophisticated in their use of technology, CIRO emphasizes the importance of independently verifying information found on the Internet. Investors should not rely on unsolicited information and should always check the background, qualifications, and disciplinary history of investment advisors registered with CIRO or the Canadian Securities Administrators (CSA).

“Be an informed investor - Don't be fooled by fraudsters misrepresenting themselves,” advises CIRO.