Ontario man loses $260K in ‘pump-and-dump’ scam
A Richmond Hill man, lost $260,000 in a sophisticated “pump-and-dump” scam shortly after moving his investments to a website falsely claiming to be Wealthsimple. Targeted by Instagram ads mimicking Wealthsimple’s branding, Klait joined an online trading forum that initially helped him profit $14,000. Trusting the group, he invested a larger sum, only for the stock […]
Four-in-five Canadians targeted by scams as fraud losses top $544M
A new report from the Angus Reid Institute reveals that over 80% of Canadians have been targeted by digital or phone scams since 2024. While many ignore these attempts, roughly 30% of those targeted fell victim, resulting in the theft of funds or personal data. By September 2025, reported losses exceeded $544 million, though the […]
Canada Pension Network Hub Scam
The “Canada Pension Network Hub” is the name used in SCAM videos and webpages circulating online that promote false information about Canadian retirement benefits. The actual Government of Canada has issued multiple warnings about these fraudulent attempts to steal personal and financial information. Key Information on the Scam Reporting Scams If you encounter such a scam or […]
Financial Resolutions for 2026
Give your finances a boost this new year. Here is a list of financial resolutions to help you become better off by the end of the next twelve months: Eliminate personal debt Brad and Angie had fallen into the very common habit of buying lots of ‘stuff’ with their credit cards and soon were carrying […]
Maximize Your RRSP Return Through Asset Location
Do you know the real rate of return on your investments? Generally, Canadians measure the success of their investments based only on the rate of return. While it provides a good snapshot of whether an investment is doing well or not, it is not the only criterion for a true picture of success. A good […]
Too Much Life at the End of the Money
You have probably heard the phrase; too much month left at the end of the money. Paying for housing, groceries, fuel, utilities and various child rearing expenses, although very necessary, can put a huge strain on a family when outlays sometimes exceed your income. Fortunately, this is usually only a temporary hiccup in most people’s […]
DEEPFAKE Elon Musk video used in cryptocurrency scam
A woman from Markham, Ontario, lost her life savings of $1.7 million to a cryptocurrency scam involving a deepfake video of Elon Musk. Using the pseudonym Denise, the victim told CTV News she was lured by a Facebook video where an AI-generated Musk promoted a high-return investment platform. After an initial $250 investment appeared to […]
Two Canadians lose $2.3 million to crypto scams
Two Canadians lost a combined $2.3 million to sophisticated cryptocurrency scams driven by AI-generated content. Denise, a 51-year-old from Markham, Ontario, lost her life savings of $1.7 million after viewing a deepfake video of Elon Musk on Facebook promising high returns. She even took out a second mortgage to invest. Similarly, Donald Hanrahan from Charlottetown […]
Ontario woman loses $4,000 to advance fee loan scam
The CTV News segment, “Consumer Alert,” warns viewers about advance fee loan scams. Reporter Pat Foran highlights the story of Linda Bailey, a woman struggling financially who sought a $20,000 loan online. She contacted a company called Dynamic Resource Solutions, which appeared legitimate with positive reviews. However, the company required a $4,000 upfront fee to […]
Police Warn About Gift Card Scams
Police are warning holiday shoppers about ongoing scams where gift card barcodes are tampered with so that scammers keep the cash value of the card. Watch video below to learn about what to watch for while shopping.
2025 Year in Review: Staying Financially Strong in Uncertain Times
As we wrap up 2025, it’s a good time to pause and reflect on what the year has brought—and more importantly, how to position ourselves for success in 2026. This year has been another reminder that global uncertainty is here to stay. Trade tensions, fluctuating interest rates, and uneven economic growth have all played a […]
RDSP Offers a Bonus
You may have heard of the Registered Disability Savings Plan (RDSP) — one of the best financial tools available for Canadians who qualify for the Disability Tax Credit (DTC). Since its launch in 2008, the RDSP has helped thousands of people with disabilities save and grow their money with significant government support. An RDSP is […]
Don’t Bank on an Inheritance
Many Baby Boomers have pinned their hopes on an inheritance to solve their financial challenges. Media reports often highlight the anticipated $1 trillion expected to transfer between generations over the next 10-15 years. A recent HSBC report from March 2024 reveals that 39% of working and recently retired individuals are counting on some form of […]
RBC and CIBC allow 89-year-old to drain life savings, lose $1.7M to scammers
Ray Anholt of Victoria recently marked his 90th birthday, but says there was little to celebrate — being the victim of one of the largest-ever bank investigator scams reported in Canada, he was left virtually penniless. Over six months last year, Anholt lost his life savings — almost $1.7 million.
BC Senior losses $40,000 to investment scammers
Seniors are getting taken advantage of by people pretending to be their friends A retired Richmond man in his 80s lost his entire life savings, totaling over $40,000, to scammers posing as supportive online friends. His son is now speaking out to warn other families, highlighting how sophisticated fraudsters exploit the trust and loneliness of […]
AI-powered crypto scam is targeting Canadians
This CTV News report details how AI-generated deepfakes are being used to defraud Canadians of their life savings. The video highlights victims like the Perkins family, who lost over $42,000, and Brenda Dion, who lost $16,000, after trusting realistic deepfake videos of political figures—including Chrystia Freeland and Mark Carney—endorsing fake crypto investment platforms According to […]
Canadians need to beware of “Ghost tapping”
The Better Business Bureau is warning shoppers about a new scam called “ghost tapping” this holiday season. This occurs when thieves intercept the Near Field Communication (NFC) signals used in contactless payments to make unauthorized charges or charge a card multiple times. Because the scammers need to be physically close to your card or phone, […]
MB Senior loses $2 million in crypto scam run by “Fargo Investor”
The Manitoba Securities Commission (MSC) is urging all Manitoba investors to be extra cautious after a local senior lost their $2 million dollar life savings in a crypto scam with “Fargo Investor” – an unregistered, fraudulent business. MSC investigators believe others may have invested with or been approached by the company and encourage them to […]
The Hidden Role of Luck in Building Wealth
When it comes to money and investing, a lot of people fall into the same trap: chasing what’s “hot” right now. If a certain stock, sector, or trend is making headlines, many will jump in—hoping they’ve found a “sure thing.” The funny thing is, that’s the exact opposite of how real planning works. Whether it’s […]
Smart Tax Tips for Small Business Owners
Running a small business is exciting and rewarding—but it also comes with plenty of challenges. Between managing cash flow, building your client base, and keeping customers happy, taxes can easily slip down the priority list. With some planning, though, tax season can be less stressful and even work to your advantage. Keep Records Year-Round The […]
When Retirement Savings Meet Healthcare Realities
Ted and Martha had always planned well for retirement—about $600,000 in their RRIFs, which gave them nearly $4,000 a month before taxes. Everything seemed secure—until Ted began experiencing cognitive impairment. For a year or so, Martha managed to care for Ted at home. But eventually she had to make a heart-breaking decision: move him into […]
Fraud Alerts
Fraud Watch News DEEPFAKE Elon Musk video used in cryptocurrency scam • January 9, 2026 A woman from Markham, Ontario, lost her life savings of $1.7 million to a cryptocurrency scam involving a deepfake video … Two Canadians lose $2.3 million to crypto scams • December 18, 2025 Two Canadians lost a combined $2.3 million […]
Investor Alert: Tradock LTD falsely claims IIROC registration
The Canadian Investment Regulatory Organization (CIRO) is warning investors about Tradock LTD, a fraudulent trading platform operating through the website [https://tradock[.]io] that has been falsely claiming registration with the Investment Industry Regulatory Organization of Canada (IIROC), CIRO’s predecessor, in communications with investors. Investors should be aware that Tradock LTD is not regulated by IIROC or […]
Fraud Watch
Fraud Watch Educational Videos How to Protect Yourself Against Fraud
Computer scam targeting Muskoka costs victims ‘thousands of dollars’
Residents in Muskoka are being warned about a trending cyber fraud targeting the area that police say has cost victims thousands of dollars. Provincial police say the scam involves pop-ups that appear to come from either Microsoft or UltraViewer about a computer hack or virus and directs the person to call the number provided. Police […]
More than 90 victims fall for ‘bank investigator scam’
In this CTV News report, Pat Foran highlights a rising “bank investigator scam” plaguing residents in Durham and Halton, with over 90 victims reported recently. Criminals impersonate bank employees, using personal details like names, addresses, and recent transaction history to appear legitimate. Victims are told their accounts are compromised and their cards need replacing. A […]
The Fraud Factory
Exposing fraudsters stealing people’s life savings This CBC Marketplace investigation reveals a massive investment fraud operation run from a call center in Tbilisi, Georgia. Journalists utilized leaked internal recordings to identify scammers posing as financial advisors, tricking victims into investing in fake platforms. The report profiles Canadian victims like Marcel and Janette, who lost their […]
Why You Need a Solid Financial Strategy
In recent years, the F.I.R.E. movement—short for Financial Independence, Retire Early—has gained traction among Canadians looking to leave the workforce decades ahead of the traditional retirement age. While the dream of stepping away from work in your 40s or 50s is exciting, it also raises a big question: how do you make your money last […]
The Smart Way to Weather Life’s Storms
We all know the saying: nothing in life is certain except death and taxes. But there’s another truth we tend to forget—life is full of surprises, and not all of them are good ones. A sudden job loss. A medical emergency. A serious accident. Even the loss of a loved one. When you think about […]
Debt-Free Retiring: From Mortgage Stress to Freedom
Feeling weighed down by debt while trying to save for retirement? You’re not alone. Many Canadians are juggling mortgages, lines of credit, and family expenses while still hoping to retire comfortably. The numbers tell the story. According to Statistics Canada, the household credit market debt-to-disposable income ratio reached 173.9% in Q1 2025—the second-highest level on […]