Identity Fraud
Planiprêt
Jun 17, 2024
Identity fraud, also known as “spoofing,” is a sophisticated scam where someone impersonates another person to obtain personal information or money. Fraudsters use various tactics, including public information from the AMF, such as certificate numbers of registered representatives, to gain your trust by posing as legitimate representatives. However, taking a few precautions can help you avoid falling into their trap.
Case Example:
Jeanne, a registered investment representative with a spotless 12-year record, becomes a victim when a fraudster finds her information on LinkedIn and the AMF register. The fraudster then sends text messages using Jeanne’s identity, promising extraordinary returns on “risk-free” investments.
Sandrine receives one of these messages and, intrigued by the offer, checks the AMF register. She notices discrepancies in the information and, upon further investigation, realizes that the workplace address provided is actually for a restaurant. Sandrine contacts Jeanne using the phone number listed in the AMF register, only to find out that Jeanne did not send the message. Jeanne, realizing her identity has been stolen, immediately informs the AMF and her employer.
Recognize the Red Flags:
- Solicitations via text message or e-mail from supposed registered representatives.
- Promises of high returns on “risk-free” investments or loans at attractive rates.
- Requests for personal information or money to “open a file.”
How to Protect Yourself:
- Ignore unsolicited messages.
- Verify the person’s registration in the AMF register and contact them using the information listed there.
- Never disclose personal information or send money without first confirming the person’s identity through the AMF register.
- If contacted by phone, either ignore the call or tell the caller you will call back. Use the number listed in the AMF register, not the one provided by the caller.
Source : L'autorité des marchés financiers.
For more details, read the full article here: Identity Fraud
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