News

At OBSI, we have seen a significant increase in complaints related to cryptocurrency and fraud. The case example below was originally published in our Consumer Bulletin: Cryptocurrency scams increasingly targeting and exploiting Canadians.

At OBSI, we have seen a significant increase in complaints related to cryptocurrency and fraud. The case example below was originally published in our Consumer Bulletin: Cryptocurrency scams increasingly targeting and exploiting Canadians.

A growing number of Canadians are interested in investing in new categories, such as cryptocurrency, but these emerging technologies and platforms are unfamiliar to most investors, giving fraudsters the advantage when they are looking for people to target. According to the RCMP, fraud involving cryptocurrency rose 400 per cent between 2017 and 2020. What had been hundreds of cases (734) in 2017 jumped to thousands of cases (7,598) in the first eight months of 2020, causing losses of almost $11 million dollars to Canadians since the onset of the pandemic.

Toronto, January 11, 2022 – Canada’s Ombudsman for Banking Services and Investments (OBSI) has released its 2022–2026 Strategic Plan.

Whenever you buy goods and services, especially for future delivery, be sure to pay careful attention to the terms and conditions of the purchase. Return and refund policies vary, so before you agree to buy, it’s important to understand what you will be entitled to if the goods are damaged, or the services are cancelled.

As previously announced, Professor Poonam Puri is currently leading two separate independent reviews of OBSI’s operations and practices relating to our banking and investment-related mandates.

As previously announced, Professor Poonam Puri is currently leading two separate independent reviews of OBSI’s operations and practices relating to our banking and investment-related mandates.

Read OBSI's latest newsletter featuring our newest case study, consumer bulletin, case statistics, a board announcement and more.

OBSI’s Board of Directors is pleased to announce the appointment of Professor Poonam Puri to lead external reviews to evaluate OBSI’s operations and practices for both banking-related and investment-related complaints.

Registered Education Savings Plans (RESPs) are complex investment products that usually are invested for many years before the money can be used for a child’s post-secondary education.