Investor Alert: Investment Recovery Scam by IIROC Impersonator

Be an informed investor - Don't be fooled by fraudsters misrepresenting themselves

TORONTO, June 26, 2025 /CNW/ - The Canadian Investment Regulatory Organization (CIRO) is warning Canadian investors about an ongoing investment recovery scam by an individual impersonating an employee of the Investment Industry Regulatory Organization of Canada (IIROC), a predecessor of CIRO.

The fraudster, using the name Angela Maher and the email address angela.maher@iiroc[.]consulting, is posing as an IIROC employee in the Recovery & Compliance Division. This individual is not employed by IIROC/CIRO. No CIRO employee will ever ask for payment from investors. This is an immediate red flag.

In an investment recovery scam, fraudsters approach individuals who have already fallen victim to a financial scam. They tell victims that they can recover the lost funds for a fee. In some cases, they will ask for remote access to the target's computer or device. In the end, no funds are returned, more funds are potentially stolen, and the victim is defrauded again.

All individuals registered to offer financial advice in Canada are listed on the National Registration Search of the Canadian Securities Administrators (CSA). You can also check with CIRO's Complaints & Inquiries team to verify the legitimacy of anyone claiming to represent CIRO.

Fraudsters are becoming very sophisticated in their use of technology, so investors should always independently verify the information they find on the Internet. For example, a list of Canadian securities regulators is available on the Canadian Securities Administrators (CSA) website. Do not rely on unsolicited information and always check the background, qualifications and disciplinary history of investment advisors registered with CIRO or the CSA by checking the free AdvisorReport for advisors registered with investment dealers or the CSA's National Registrant Search.

CIRO's Office of the Investor publishes information to help investors keep their investments safe. See Avoiding Fraud and Protecting Your Investments.

If you believe you have been a victim of this or a similar scam, please report it to CIRO and immediately contact your bank, local police, your provincial securities commission, and the Canadian Anti-Fraud Centre.

Please direct all other inquiries to our Complaints & Inquiries team:
1-877-442-4322 (Canada/US),
800-5555-2323 (Outside Canada/US),
or by completing our Secure Contact Form

About CIRO

The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.

SOURCE Canadian Investment Regulatory Organization (CIRO)

For media inquiries only: Ariel Visconti, Corporate Communications and Public Affairs, Canadian Investment Regulatory Organization, Telephone: [phone], Email: [email protected]