![]() ![]() "If someone can make these returns on a no-risk basis, why are they asking for your money? They would be doing it on their own and making their own profit."Īccording to the Better Business Bureau, some signs of an investment scam include promises of fast, easy returns with no risk, unsolicited investment offers that come out of the blue and pressure to act fast. "It's really important to understand who you are getting your advice from," said McGuinness. Karen McGuinness, the head of the office of the investor with the Canadian Investment Regulatory Organization (CIRO), told CTV News Toronto that everyone needs to be careful where they put their money - especially if it's in cryptocurrency. Read more: A warning from experts: 'The deepfakes you see now are going to be the worst you're ever going to see'Īccording to the Canadian Anti-Fraud Centre, 1,742 victims lost $16,363,182 in investment scams during the first half of 2023 alone."That money was to take care of my child who has autism. "My money is not in that platform anymore," said Taylor. Similar investment scams have used deepfake videos of Elon Musk and other celebrities. Later, she discovered that the news report she had watched was not real and had been manipulated using artificial intelligence. Taylor said when she wanted to take the money out, she couldn't. At first they just asked Taylor to put in $250 but over time she was convinced to put in more money until she had invested $7,250. Taylor said that someone called her the next day after she contacted the investment platform and told her to start investing in cryptocurrencies. Get the latest local updates right to your inbox.Download our app to get local alerts on your device. ![]() That made me get really interested and I just signed up," said Taylor. "The news story said a police officer was making thousands of dollars a month. Shivaun Taylor told CTV News Toronto that she was searching through TikTok when she first came across a news report showing that someone who started investing only $250 was now making $28,000 a month. An Ontario mother who lost more than $7,000 in an investment scam after viewing a fake news report on social media is speaking out about the ordeal and warning others to be on the lookout for fraudsters using similar tactics. ![]()
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