Beware of fraudulent representations by Cryptlogger PLC
Investor warnings - News
Montréal – The Autorité des marchés financiers (the “ AMF”) cautions Québec consumers against fraudulent representations being made by the company Cryptlogger PLC (“Cryptlogger”).
On its website, Cryptlogger falsely claims to be an AMF-regulated investment and crypto-asset management company.
The public should be aware that Cryptlogger is not registered with the AMF.
Note that both the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA) have issued similar investor alerts informing the public that Cryptlogger is not regulated by those self-regulatory organizations, either.
The AMF urges Québec consumers to be very cautious when thinking about investing with companies that solicit them on-line. There is limited recourse against such companies and their executives when they operate outside Canada, which is often the case.
The AMF recommends that Québec consumers perform the following checks and steps before investing through an individual or firm that solicits them:
- Find out if the firm or individual involved is duly registered with the AMF by checking the Register of firms and individuals authorized to practise or by contacting the AMF Information Centre
- If the firm or individual is registered with the AMF, call them using the phone number listed in the Register to confirm that the solicitation is actually from that firm or individual
- If the firm or individual is not registered with the AMF, immediately report the situation to an agent at the AMF Information Centre
- Never share personal information or make any payment before performing these checks
The Autorité des marchés financiers is the regulatory and oversight body for Québec’s financial sector.
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Jean-Maurice Bouchard : [email protected]
Québec City: 418-525-0337
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