AMF warns of “fake CEO” scam

Investor warnings - News

Montréal – The Autorité des marchés financiers (AMF) is warning Quebeckers, particularly insurers and insurance intermediaries, about the  recent actions of one or more individuals currently using a “fake CEO” scam.

The AMF has received a number of  reports of one or more individuals using this scam to attempt to extract money from insurance firms. The scammers, impersonating the CEO of a firm, send an e-mail to actual employees of the targeted firm in order to trick them into taking certain actions. For example, they might ask the employee to transfer funds from one account to another.

To give more credibility to their e-mails, which appear to be from the CEO’s e-mail address, the scammers indicate that certain steps must be taken in order to comply with AMF regulations. In addition, the e-mails are copied to a fake AMF e-mail address ([email protected]). The AMF does not own the domain and therefore does not control it.

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

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