Investors warned about five Ontario firms in global investigation ‘Operation Cryptosweep’

Investors warned about five Ontario firms in global investigation ‘Operation Cryptosweep’

May 23 2018 (Courtesy of the Financialpost.com) – Canadian securities regulators have joined forces with capital markets watchdogs in the United States to scour the cryptocurrency landscape for potentially fraudulent schemes. “Operation Cryptosweep, a coordinated effort involving 40 state and provincial regulators, led to a number of warnings and investor alerts about schemes involving cryptocurrency-related investment products, including five in Ontario. The British Columbia Securities Commission issued letters to 12 offshore companies that advertise initial coin…

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Parents, friends of international student defrauded out of over $200K in virtual kidnapping scam

Parents, friends of international student defrauded out of over $200K in virtual kidnapping scam

May 22, 2018 (Courtesy of CBC.ca) – Durham police are investigating after parents and friends of an international student were defrauded out of more than $200,000 in a “virtual kidnapping” scam. The 18-year-old female student at McGill University in Montreal, was told that she had been implicated in a crime ring and would be arrested if she failed to take photos of herself tied up and in distress, making it appear that she had been kidnapped, police…

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FBI: Reported Internet Frauds Topped $1.4 Billion Last Year

FBI: Reported Internet Frauds Topped $1.4 Billion Last Year

May 9, 2018  ( Courtesy of darkreading.com)– The FBI’s Internet Crime Complaint Center (IC3) logged more than 301,000 complaints of Internet crimes last year that resulted in losses of more than $1.4 billion — and that’s just from consumers and businesses that reported incidents to the bureau. Victims who reported attacks to the IC3 mostly were hit with so-called non-payment/non-delivery scams, personal data breaches, and phishing attacks. The most-costly types of Internet crimes reported to…

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Man allegedly convinced woman he met online to give him cash and gifts worth $100K

Man allegedly convinced woman he met online to give him cash and gifts worth $100K

May 2, 2018 (Courtesy of CP24.com) –   A 47-year-old man is facing multiple charges after allegedly convincing a woman he met online last year to give him cash and gifts amounting to more than $100,000. According to investigators, the pair met on an online dating website back in September 2017. At the time, the man told the woman he was a former police officer and asked her to marry him. After an unspecified amount of…

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MacEwan University recovers bulk of $11.8M lost in online phishing scam

MacEwan University recovers bulk of $11.8M lost in online phishing scam

University defrauded when staff failed to verify emails requesting changes to banking information April 5, 2018 (Courtesy of CBC.ca ) – After months of legal wrangling, Edmonton’s MacEwan University has recovered nearly all of the $11.8 million lost to an online phishing scam. In a statement Wednesday, MacEwan said it was able to recover $10.92 million before concluding legal proceedings. “MacEwan’s administration credits the recovery of such a large percentage of the funds — just over 92 per cent…

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Anatomy of an internet scam: How an Edmonton man’s stolen ID was used in a $10,000 international scam

Anatomy of an internet scam: How an Edmonton man’s stolen ID was used in a $10,000 international scam

March 26, 2018 (Courtesy of Edmontonjournal.com)- An international online scam involving a Danish nurse, a Nigerian fraudster and an Edmonton man’s driver’s licence is being used as a cautionary tale highlighting how easy it is to be bilked out of thousands of dollars. Edmonton police were drawn into the investigation when a 40-something intensive care nurse in Denmark who police are calling “Suzy” contacted the economic crimes section to report that an Edmonton man’s identity…

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RCMP looking for more victims after B.C. man charged with ‘romance fraud’

RCMP looking for more victims after B.C. man charged with ‘romance fraud’

Reza Moeinian, 37, is accused of dating victims for months, gaining trust and then scamming them March 8, 2018 (courtesy of CBC.ca) – A Maple Ridge, B.C., man has been charged with faking relationships to steal thousands from a number of people — and RCMP say there may be more victims. Reza Moeinian, 37, allegedly dated victims for months to gain their trust and build “a deep romantic” bond under a fake name and a fake title…

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Almost one quarter of Canadians have clicked on a phishing link

Almost one quarter of Canadians have clicked on a phishing link

Online payment fraud like phishing is a growing trend, and Canadians are worried about it.  According to a new survey conducted by Interac Corp., Canadians are more likely to worry about payment fraud scams like phishing and skimming than home break-ins, vehicle theft and plane crashes. And, almost one-quarter of Canadians say they have clicked on a link that resulted in a phishing scam, while 64 per cent say they have been tempted to click on a…

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Craig Wright, the self-proclaimed bitcoin inventor accused of fraud in connection with $5-billion investigation

Craig Wright, the self-proclaimed bitcoin inventor accused of fraud in connection with $5-billion investigation

Craig Wright, the self-proclaimed inventor of bitcoin, is accused of swindling more than $5-billion worth of the cryptocurrency and other assets from the estate of a computer-security expert. Wright, who claimed in 2016 that he created the computer-based currency under the pseudonym Satoshi ‎Nakamoto, allegedly schemed to use phony contracts and signatures to lay claim to bitcoins mined by colleague Dave Kleiman, another cryptocurrency adherent, who died in 2013, according to a lawsuit filed by…

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U.S. accuses groups with B.C. ties of scamming seniors for millions of dollars

U.S. accuses groups with B.C. ties of scamming seniors for millions of dollars

British Columbia companies and individuals are in the crosshairs of the U.S. Department of Justice for allegedly defrauding seniors around the world with bogus promises of lottery winnings. In a Thursday posting on its webpage, the department said coordinated busts of various alleged elder fraud schemes around the world swept up the B.C.-based groups who are allegedly involved in mail fraud and in scamming millions of dollars each year. “The defendants targeted elderly and vulnerable consumers both in the United…

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