News Release

ASC warns investors about impersonation scams

Dec 05, 2023

CALGARY – December 5, 2023 – The Alberta Securities Commission (ASC) is warning the public to be wary of unsolicited communications from individuals claiming to be from the ASC.

We have received a number of complaints recently where a member of the public has been contacted by someone posing as an ASC staff member. In each instance, the person who received the call had previously lost money in an offshore crypto-related investment. We believe that the individuals claiming to be ASC staff may be operating a recovery room scam, in an attempt to re-victimize investors who have already lost money.

The ASC will never:

  • Ask the public to send money anywhere at any time.
  • Promote companies or entities that claim to recover funds from scams.
  • Make unsolicited phone calls or other communications (texts or email) asking for payment or banking information in relation to enforcement actions or investigations.

Please contact the ASC Public Information Officer directly with any concerns regarding an unsolicited communication using any of the following methods:

  • Phone: 403-355-4151

  • Toll-free: 1-877-355-4488

  • Email: inquiries@asc.ca

Members of the public are encouraged to visit CheckFirst.ca for more information about investment scams, including recovery room scams.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted with fostering a fair and efficient capital market in Alberta and with protecting investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

For further information please contact:

For Media Inquiries:

 

For Investor Inquiries:

Tanja McMorris
Senior Advisor, Communications
media@asc.ca

ASC Public Inquiries
Toll Free: 1-877-355-4488