Funding scams on the rise within the Okanagan | Globalnews.ca

Assaults with a weapon, domestic violence on the rise in Kelowna: RCMP superintendent - Okanagan | Globalnews.ca

2022-09-22 21:56:57

If it seems to be too good to be true, it most likely is, Mounties are reminding Kelowna residents.

Police mentioned they’ve not too long ago acquired a lot of fraud studies involving funding scams which have price the victims a major quantity of monetary loss.

In accordance with RCMP, suspects will provide a sufferer an funding alternative that has an ideal charge of return in a brief time period.

“These alternatives are sometimes unsolicited and will seem to have some legitimacy however is not going to maintain as much as scrutiny,” RCMP mentioned.


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“Examples of funding alternatives being utilized by the suspect(s) are: cryptocurrency, artwork, comedian books, sports activities memorabilia and different such objects.”

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The suspects are capable of full the fraudulent transactions by providing a singular funding alternative and can present contracts that seem reliable providing a better charge of return than what is perhaps accessible with conventional investments.

“As soon as the primary funding is made the suspect will provide extra alternatives and roll the unique funding into the brand new alternative inflating the worth,” RCMP mentioned.


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RCMP defined that after the sufferer asks for a return on their funding they’re informed the cash is tied up and extra funds are required for the discharge of the cash because of issues like tax implications or points with worldwide borders.

The suspects at occasions do present some cash however by no means as a lot as the unique funding.

“The Kelowna RCMP is reminding those who when contemplating an funding alternative to rigorously analysis the funding and the person or agency providing the funding,” Const. Mike Della-Paolera mentioned.

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In the event you really feel you’re a sufferer of a rip-off, fraud or cybercrime, contact your native police and likewise report back to the CAFC on-line or by telephone at 1-888-495-8501. In the event you’re not a sufferer, you must nonetheless report the incident to the CAFC.

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