Did you
recently receive an email from a Canuck regulator? Be careful, it could be a
scam attempt.
The
Canadian Securities Administrators (CSA) has issued a warning to registrants
about fraudulent emails impersonating CSA Chair and Alberta Securities
Commission CEO Stan Magidson. The scam emails are believed to be malicious
phishing attempts seeking confidential information.
The CSA
reported on 21 February that unknown individuals have been sending emails
posing as Magidson to registrants across Canada. The emails appear aimed at
tricking recipients into providing personal details and business information.
“The CSA is
monitoring this matter. The spear phishing attempts are from outside parties.
No CSA system was breached,” the CSA commented.
⚠️We are warning registrants of emails impersonating the CSA Chair. The emails are believed to be malicious “spear phishing” attempts by unknown individuals who are trying to obtain personal information. We can confirm that no CSA system was breached. https://t.co/41asxKgBgz pic.twitter.com/El8leLw5ju
— CSA_News (@CSA_News) February 21, 2024
The CSA
advises registrants to carefully scrutinize any unusual emails claiming to be
from securities regulators. Specifically, recipients should check that the
message comes from a legitimate email address and sender that can be verified.
Registrants should also consider whether they were expecting the email and if
they know the claimed sender.
The CSA
warned that any registrant who clicked links or opened attachments in a
suspicious email should promptly change their password. Recipients who receive
any dubious communications claiming to be from the CSA should report them to
CSA-ACVM-Secretariat@acvm-csa.ca.
As the
umbrella organization for Canada’s provincial and territorial securities
regulators, the CSA works to harmonize regulation for capital markets across
the country.
Scammers Impersonate
Financial Regulators
It’s not
the first time, and likely not the last, that fraudsters have impersonated
well-known financial market regulators to extract data and sensitive
information. Just three weeks ago, Finance Magnates warned about
individuals pretending to be from the UK’s Financial Conduct Authority,
contacting people with offers to help recover lost funds.
The Cyprus
Securities and Exchange Commission has also been mimicked in the past, with its
website cloned in September of the previous year and social media accounts in
October.
The US
Securities and Exchange Commission has issued warnings about impersonators as
well. These fraudsters use various communication methods, including phone
calls, voicemails, emails, and letters, to alarm individuals about unauthorized
transactions or suspicious activities in their bank or cryptocurrency accounts.
Did you
recently receive an email from a Canuck regulator? Be careful, it could be a
scam attempt.
The
Canadian Securities Administrators (CSA) has issued a warning to registrants
about fraudulent emails impersonating CSA Chair and Alberta Securities
Commission CEO Stan Magidson. The scam emails are believed to be malicious
phishing attempts seeking confidential information.
The CSA
reported on 21 February that unknown individuals have been sending emails
posing as Magidson to registrants across Canada. The emails appear aimed at
tricking recipients into providing personal details and business information.
“The CSA is
monitoring this matter. The spear phishing attempts are from outside parties.
No CSA system was breached,” the CSA commented.
⚠️We are warning registrants of emails impersonating the CSA Chair. The emails are believed to be malicious “spear phishing” attempts by unknown individuals who are trying to obtain personal information. We can confirm that no CSA system was breached. https://t.co/41asxKgBgz pic.twitter.com/El8leLw5ju
— CSA_News (@CSA_News) February 21, 2024
The CSA
advises registrants to carefully scrutinize any unusual emails claiming to be
from securities regulators. Specifically, recipients should check that the
message comes from a legitimate email address and sender that can be verified.
Registrants should also consider whether they were expecting the email and if
they know the claimed sender.
The CSA
warned that any registrant who clicked links or opened attachments in a
suspicious email should promptly change their password. Recipients who receive
any dubious communications claiming to be from the CSA should report them to
CSA-ACVM-Secretariat@acvm-csa.ca.
As the
umbrella organization for Canada’s provincial and territorial securities
regulators, the CSA works to harmonize regulation for capital markets across
the country.
Scammers Impersonate
Financial Regulators
It’s not
the first time, and likely not the last, that fraudsters have impersonated
well-known financial market regulators to extract data and sensitive
information. Just three weeks ago, Finance Magnates warned about
individuals pretending to be from the UK’s Financial Conduct Authority,
contacting people with offers to help recover lost funds.
The Cyprus
Securities and Exchange Commission has also been mimicked in the past, with its
website cloned in September of the previous year and social media accounts in
October.
The US
Securities and Exchange Commission has issued warnings about impersonators as
well. These fraudsters use various communication methods, including phone
calls, voicemails, emails, and letters, to alarm individuals about unauthorized
transactions or suspicious activities in their bank or cryptocurrency accounts.
