Investor Alert: Fraudsters Impersonating CIRO and CIRO Board Member in Investment Recovery Scams

May 6, 2025 (Toronto, Ontario) – Fraudsters are falsely claiming to be affiliated with the Canadian Investment Regulatory Organization (CIRO), using its logo, falsified documents, and referencing a CIRO board member to deceive investors.

Victims have received fraudulent “guarantee documents” on fake CIRO letterhead, falsely promising recovery of lost investments in exchange for transfer and processing fees. CIRO does not engage in investment recovery, and any such claims are fraudulent.

Protect Yourself from Scams:

• Independently verify any communication claiming to be from CIRO.
• Be cautious of unsolicited recovery offers.
• Visit CIRO website for fraud prevention resources, including Avoiding Fraud and Protecting Your Investments for additional information.

If you believe you have been a victim of this or a similar scam, please report it to CIRO and immediately contact your bank, local police, your provincial or territorial securities commission, and the Canadian Anti-Fraud Centre.

For media inquiries only:

Trisha Utomi
Corporate Communications and Public Affairs
Canadian Investment Regulatory Organization
Telephone: 437-448-7980
Email: tutomi@ciro.ca

Please direct all other inquiries to our Complaints & Inquiries team:

1-877-442-4322 (Canada/US),
800-555-2323 (Outside Canada/US),
or by completing our Secure Contact Form