On February 9, 2023, Canada-Poland Chamber of Commerce together with Canadian-Croatian Chamber of Commerce hosted their Winter Gathering, a networking seminar mixer with a guest speaker. The Chambers were delighted to have Christine Allum, Senior Advisor, Ontario Securities Commission to come and present on a hot topic of Investment Fraud, Scams and Crypto Fraud.

The key themes covered in the presentation included:

  1. Canadians reported losing $530 million to fraud in 2022.
  2. Only 5-10% of frauds are estimated to be reported.
  3. There are many forms of fraud. Some of the ones discussed were affinity fraud, romance fraud, grandparent/emergency fraud, crypto fraud and ponzi schemes.
  4. Signs of an investment scam: high return and low risk, hot tip or insider information, pressure to buy now and seller not registered to sell investments.
  5. A good source of information on the topic is on a special website maintained by the OSC: Protect your money | GetSmarterAboutMoney.ca. This web site also includes information on many financial topics, tools and other resources.

The presentation was preceded and then followed by B2B networking, while enjoying food, drinks and ambiance of the beautiful Baka Gallery Cafe.

Chamber calendar event detail: Networking Seminar Mixer: Investment Fraud, Scams and Crypto Fraud