An unsolicited caller promises guaranteed returns, exclusive access to an investment, or a chance to recover money lost in an earlier scam. These offers deserve extreme caution. Legitimate investments carry risk, and pressure to act immediately is a warning sign.
Common tactics
The caller may show fabricated profits, claim a celebrity or financial institution endorses the opportunity, or insist that you pay a fee before withdrawing supposed earnings. Some scammers request cryptocurrency transfers because payments can be difficult to reverse.
Another tactic is a recovery scam: after someone loses money, a new caller promises to retrieve it for an upfront payment.
Verify before investing
Do not rely on screenshots, testimonials, or a caller’s claims. Check the company and individual through official Canadian securities-regulator resources. Be cautious of websites that imitate legitimate firms or use slightly altered domain names.
Never share account passwords, wallet recovery phrases, or one-time codes. Do not install remote-access software at an unsolicited caller’s request.
If you sent money
Contact your bank, exchange, or payment provider immediately. Preserve wallet addresses, transaction IDs, messages, and phone details. Report the incident to the Canadian Anti-Fraud Centre and the relevant authorities.
Check the caller’s number
A search on CallCheck.ca may reveal reports from other users. However, scammers can spoof phone numbers, so a search result cannot confirm identity or prove that an investment is legitimate.
Do not make an investment decision during an unexpected phone call. Take time to verify the firm, understand the risks, and seek independent advice where appropriate.