The Bank of Canada (“Bank”) has become aware of a fraudulent investment scheme on the part of World Way Capital (“WWC”). WWC is presenting a fraudulent Deposit Guarantee/Investor Compensation sheet dated February 2019 to potential investors, purporting that the Bank will guarantee deposits (in US$ and cryptocurrencies). WWC is also presenting a false partnership agreement with the Bank dated January 29, 2018. This fraudulent investment scheme misrepresents the Bank and makes use of the Bank’s name, identity, logos, trade-marks and letterhead without authorization. The Bank has no partnership agreement with WWC. The Bank does not accept deposits nor does it guarantee any deposits or investments with WWC or any other company. The Bank has no connection to this scam.
Recognizing a Scam
The Bank of Canada is Canada’s central bank:
- It does not accept deposits from or on behalf of individuals.
- It does not get involved in or partner with companies or individuals in investment schemes.
- It does not collect personal or financial information from individuals through email.
- It does not request personal or financial information through social media messaging applications.
The Bank’s employees and officers do not
- request personal or financial information through email or social media messaging applications
- participate in any Internet-based communications that request information or payment for services
Reporting a Scam
Take the following steps if you have concerns about the contents of any Internet-based communication that purports to be from the Bank or about the Bank’s involvement in any investment scheme:
- Delete the email or message immediately and contact your local authorities.
- Do not follow links. Access the Bank’s website by typing the URL yourself —www.bankofcanada.ca— and look for references to the program identified in the email.
- Call our Public Information Office at 1-800-303-1282 (toll-free in North America), or send us an email with details of the scam.
