AMF warns of “fake CEO fraud”

Investor warnings - News

Montréal –The Autorité des marchés financiers (AMF) is warning Quebeckers about the actions of one or more individuals who are currently using a “fake CEO” scam.

In this type of scam, a fraudster impersonating a company’s CEO or claiming to be acting on the CEO’s behalf contacts the company’s employees directly to request urgent bank transfers.

The AMF has received information that a scammer sent a company’s employee an e-mail signed by the CEO requesting that that the employee perform a transaction on a priority basis in connection with a takeover bid. An individual claiming to be a lawyer then made several calls to the employee to confirm the amounts to be transferred. To make the request seem even more credible, the employee was told the transaction was authorized by the AMF.

It you believe you have been the target of this or any other fraud scheme, contact the Canadian Anti-Fraud Centre This link will open in a new window or your local police department.

To find out more about fraud, consult the AMF website.

The Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector.

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