Skip to main content Skip to footer

Case Studies

  • Consumer surprised when bank gives him 30 days to close his account

    Mr. K arranged a meeting at a Canadian branch of ABC Bank, so he could open a personal chequing account. At the meeting, he provided the proper documentation and told the bank he would be traveling abroad. He also mentioned that a branch of ABC Bank was located where he was going, and he was relying on his new ABC bank account to transfer money back to Canada.

  • Consumer’s intentions to gift money while alive could not be confirmed

    Ms. A was a senior with serious health issues who had given one of her three daughters Power of Attorney (POA). Ms. A’s daughter arranged a time for them to meet with Mr. G who was Ms. A’s long-standing mutual fund representative at her bank branch.

  • Investor loses nearly $400,000 in cryptocurrency scam

    Mr. F was a healthcare professional and wanted to invest his savings. He was contacted online by someone who claimed to represent online investment company Firm X. The representative said the firm offered investing opportunities with high returns and advisory services to help investors.

  • Investor sells at a loss when markets fall and seeks compensation from advisor

    All investors should understand that higher potential investment returns come with a higher risk of investment losses, but most people find it much easier to consider potential investment gains than to deal with investment losses. Before committing to any investment plan with medium-to-high expected returns, consider: If your investments were to lose half their value, how would you feel? How would your short- and long-term financial well-being be impacted? Could you stick to your plan? Discuss these issues with your advisor to help them understand your risk tolerance.

  • New investor is targeted on social media

    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.

  • Senior is targeted by fraudulent investment firms

    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.

  • Consumer pursues credit card refund for vacation cancelled due to COVID-19

    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.

  • Savings are at risk when scholarship trust plan rules are overlooked or misunderstood

    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.

  • DIY investing leads to more than $100,000 in losses

    If you invest through a do-it-yourself account at an order-execution-only (OEO) firm, you can pay significantly less in fees than you would to an advisor. 

  • Consumer responsible for unauthorized transactions after not taking enough care to protect his debit card and PIN

    If you have a debit card, you have agreed to use it subject to the obligations in the cardholder agreement you made with your bank when the card was issued. 


This website uses cookies to enhance usability and provide you with a more personal experience. By using this website, you agree to our use of cookies as explained in our Privacy Policy.