You’re a victim of fraud?
Anyone can become a victim of financial fraud. If you have concerns and think you may be a victim of fraud, here are some quick actions you should take and the situations in which the AMF can help you.
Quick actions you should take if you’re a victim of fraud
1. Change all your passwords
If you gave the fraudster access to your phone, tablet or computer, you must change your passwords from another device.
- Your bank accounts
- Your e-mail accounts
- Your social media accounts
2. Document the situation
Gather together whatever information you have:
- Information: useful record of what happened to you.
- Documents
- Receipts
- Copies of e-mails or text messages
- Evidence of money transfers
3. Report the situation to:
Contact as soon as possible:
- Your financial institution
- Your credit card issuer
- The credit bureaus (Equifax
This link will open in a new window et TransUnion This link will open in a new window) - The AMF
What the AMF can do for you:
The AMF can help you in cases of financial fraud, meaning fraud that occurs after you have been promised an investment, significant returns, rebates, units or shares or have been asked to invest in a project, for example.
If you think you’re a victim of fraud, we strongly recommend you contact the AMF. We can guide you and tell you what types of action the AMF can take. If the fraud falls outside our mandate, we can refer you to another organization.
We analyze all situations that are reported to us, and our investigations are held in camera and are confidential.
Questions or concerns?
Depending on the nature of the fraud, you should also contact:
- The Canadian Anti-Fraud Centre 1-888-495-8501 (toll-free) or through the Fraud Reporting System This link will open in a new window.
- Based on your situation, the Canadian Anti-Fraud Centre recommends reporting such incidents This link will open in a new window to other organizations.
- Based on your situation, the Canadian Anti-Fraud Centre recommends reporting such incidents
- The Sûreté du Québec This link will open in a new window or your local police
- The Office de la protection du consommateur This link will open in a new window: if the fraud is related to a product or to a contract that is not honoured
- Legal counsel. If you have sustained damage or losses, then it may be beneficial to promptly seek legal counsel, as it is sometimes possible to file a claim with the civil courts.
It’s important to report fraud to the authorities, as it could help prevent others from falling victim to the same type of fraud.
End of the insightRemain vigilant: You could become a repeat victim of fraud
Scammers often target their victims a second or third time by pretending to provide a service to recover the money lost the first time around. Always do your homework and never send anyone funds to recover your money.
It’s also important to share your experience with your family, friends, neighbours and co-workers. You may help prevent them from becoming the next victim.
Some things to check off the list before you invest
The most important:
Check the AMF’s Register of firms and individuals authorized to practise
We always recommend people check that the individual or firm they are thinking of dealing with is in the AMF’s register of firms and individuals authorized to practise.
If someone calls to offer you an investment opportunity, tell the person you will call them back using their contact information from the Register of firms and individuals authorized to practise, then hang up quickly!
Never share your personal information or send money to anyone until you’ve confirmed that the person you’re talking to can be trusted.
End of the warningDepending on the situation:
Check whether the entity or individual is on the AMF’s investor warnings list
Be careful! Check the AMF’s on-line investor warnings list for websites whose activities are high-risk. This list is not exhaustive. Although it is continually updated, just because a platform is not on the list doesn’t mean it’s legally authorized to carry on business in Québec.
Check the list of registered cryptoasset trading platforms
This means the risk is lower for you. Some platforms that facilitate the trading of cryptoassets must comply with securities legislation. These platforms must be registered with the AMF as dealers. Don’t trade your cryptoassets on other trading sites and don’t give anyone access.