Preventing Fraud

Fraud Awareness

We are committed to conducting all business activities with honesty, integrity, and the highest ethical standards. As such, we take all allegations of fraud and financial crime seriously.

Unfortunately, fraudsters are becoming increasingly sophisticated, using advanced technology and evolving tactics to target victims more quickly and effectively. Fraud and financial crime can affect anyone—individuals of all ages, as well as businesses and organizations with the primary objective of financial gain.

Protecting and educating investors is a key priority for us. We are committed to providing information on common fraud schemes, emerging threats, and practical prevention strategies. The most effective defense against fraud is awareness. By staying informed and vigilant, individuals can significantly reduce their risk of becoming a victim.

To support these efforts, we have provided the following information and resources to help identify, prevent, and report fraud and financial crime.

Spoofing and Phishing

Spoofing

Spoofing is when someone deliberately disguises an email address, sender name, phone number, or website URL often by changing just one letter, symbol, or number to make it appear as though you are interacting with a trusted source. For example, you may receive an email that appears to be from your manager, a company you do business with, or even from someone in your family, when in fact it was sent by a fraudster.

Cybercriminals rely on this deception to convince you that the communication is legitimate. As a result, you may be tricked into downloading malicious software, sending money, or disclose personal, financial, or other sensitive information. By creating a false sense of trust and urgency, fraudsters attempt to lower your guard and prompt you to act before verifying the authenticity of the message.

Phishing

Phishing scams often rely on spoofing techniques to lure individuals into taking the bait. These schemes are designed to deceive individuals into revealing sensitive information that criminals should not have access to, such as passwords, account numbers, personal information, or security credentials.

In a phishing scam, you may receive an email that appears to be from a legitimate business requesting that you update or verify your personal information by replying to the email or visiting a website. Their goal is to trick you into clicking malicious links, opening infected attachments, sharing confidential information, or authorizing fraudulent transactions. They often direct victims to fraudulent websites that closely resemble legitimate ones.

Once you click on a malicious link, you may be redirected to a fraudulent website that has been designed to closely mimic a legitimate site, such as your bank or credit card provider, and prompted to provide sensitive information including passwords, credit card numbers, banking PINs or other personal data. These fake websites are used to steal your information and may facilitate identity theft or financial fraud.

Phishing has evolved and now includes several variations that use similar techniques:

• Phishing scams may occur through email, fraudulent websites and phone calls (vishing).
• Smishing scams are conducted through SMS (text) messages.
• Pharming scams occur when a malicious software or code redirects users from legitimate websites to fraudulent ones without their knowledge

Spoofing and phishing are common cybersecurity threats. Please report these to the Canadian Anti-Fraud Centre through its Report fraud and cybercrime portal if you believe you have been targeted by fraud or cybercrime.

Deceptive Articles, Fake Media, and False Endorsements

Fraudsters may create fake articles, interviews, videos, advertisements, or testimonials that appear to originate from legitimate media organizations or well-known business leaders. These materials are designed to make fraudulent investment opportunities seem credible and trustworthy. Before relying on any article, advertisement, endorsement, or media report, verify the information through the official source and conduct your own independent research to confirm its accuracy.

Artificial Intelligence (AI), Deepfake, and Impersonation Scams

Fraudsters may use AI to create highly realistic emails, websites, advertisements, images, videos, and voice recordings that appear to come from trusted organizations, public figures, financial institutions, family members, or colleagues. These materials may be used to promote fraudulent investment opportunities, request personal information, or persuade individuals to send money. However, information that appears authentic is not always legitimate. Always verify unexpected requests through independent and official channels before taking any action.

QR Code Scams

Scammers may use QR codes in emails, text messages, advertisements, documents, or social media posts to direct individuals to fraudulent websites, payment portals or other malicious online content. Before scanning a QR code, ensure it originates from a trusted source and verify the destination website before entering any personal, financial, or account information.

Regulator and Government Impersonation Scams

Fraudsters may falsely claim to represent securities regulators, government agencies, law enforcement organizations, financial institutions, or investment firms. They may use official-looking logos, websites, email addresses, contracts, invoices, receipts, QR codes, or other fraudulent documentation to appear legitimate. If you receive suspicious communication, verify by using contact information obtained directly from the organization’s official website or trusted sources, rather than relying on information provided in the message.

Investment Scams

Investment scams involve persuading individuals or businesses to make investment decisions based on false, misleading, or deceptive information. Fraudulent investment opportunities are often promoted through emails, websites, social media platforms, or telephone calls and may be presented as low risk, high return investments with little or no downside. Fraudsters frequently use professional looking materials and high-pressure tactics to create a false sense of legitimacy and urgency. Investors are encouraged to verify the registration and credentials of any person or business offering investment products, services, or advice before investing.

Cryptocurrency Scams

Cryptocurrencies, such as Bitcoin, and other digital assets have grown in popularity. Digital assets also includes Non-Fungible Token (NFT), which are unique blockchain-recorded assets that can represent ownership of digital artwork, collectibles, music, videos, virtual property, and other digital content. While legitimate cryptocurrency projects exist, fraudsters often exploit public interest in digital assets to steal money and personal information.

Celebrities, business leaders, and other public figures are frequently featured in cryptocurrency promotions. However, a familiar face or endorsement does not guarantee that an investment opportunity is legitimate.

Scammers often use fake endorsements, fabricated testimonials, altered videos, and fraudulent news articles to create a false appearance of credibility and trustworthiness. They may also falsely claim that well-known investors or business leaders support a cryptocurrency, trading platform, or investment strategy. Always verify such claims through independent and reputable sources before investing.

Portland provides this information for investor awareness and fraud prevention purposes only. Nothing on this page should be interpreted as an endorsement of cryptocurrencies, digital assets, NFTs, or cryptocurrency trading platforms. Individuals should carefully assess the risks associated with any investment and seek professional advice where appropriate.

• Be skeptical of "guaranteed returns”, “risk-free investments” and other get-rich-quick" schemes.
• Be cautious of investments promoted through social media, online advertisements, ads, texts, or unsolicited emails.
• Do not rely on celebrity or influencer endorsements. Always conduct your own independent research.
• Verify information through reputable, independent and official sources.
• Confirm that any person or firm offering investments is properly registered, licensed, or authorized to operate where required.
• Think carefully before sending money or sharing personal information.
• Never share passwords, account credentials, private keys, recovery phrases, multi-factor authentication (MFA) codes or wallet access.

If you are considering investing in crypto assets, take time to understand the risks, verify whether any platform is appropriately registered or authorized to operate in your jurisdiction, and conduct independent research before investing. As a reminder, be particularly cautious of platforms or investment opportunities that promise unusually high returns, create a sense of urgency, or pressure you to act quickly.

Awareness Tips: