CCI Manitoba Chapter News

Fraud awareness - don't lose your life savings

News items of people getting scammed and losing their life's savings are all too common. Don't let it happen to you.

On Feb. 25, 2025, CTV News reported 82-year-old Oakville man loses $750K to an investment scam: ‘Do you know how long I had to work to make that money?’. The victim fell prey to a fake website and lost thier money.

A similar thing happened over a year ago to a Winnipegger, who lost a similar amount of money. The victim in this case is challenging the financial institutions that handled the transactions and is taking them to court to seek cost recovery. Certainly financial institutions have obligations to help prevent fraud but whether they are at fault in this case, the courts will decide. For details, have a look at the CBC News article posted on March 7, 2025 titled Credit union denies negligence in alleged fraudulent investment lawsuit.

March is fraud awareness month. Don't become a victim — be informed.