{"id":520,"date":"2025-09-15T20:29:41","date_gmt":"2025-09-15T20:29:41","guid":{"rendered":"https:\/\/refundauthority.com\/?p=520"},"modified":"2026-03-18T20:36:29","modified_gmt":"2026-03-18T20:36:29","slug":"bcsc-finds-13m-crypto-fraud-sec-charges-canadians-for-650m-allegations","status":"publish","type":"post","link":"https:\/\/refundauthority.com\/?p=520","title":{"rendered":"BCSC finds $13M crypto fraud, SEC charges Canadians for $650M allegations"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"520\" class=\"elementor elementor-520\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-fdb26d2 e-flex e-con-boxed e-con e-parent\" data-id=\"fdb26d2\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6244b62 elementor-widget elementor-widget-text-editor\" data-id=\"6244b62\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul data-v-33a913c3=\"\" data-v-f1ce2bb4=\"\"><li data-v-33a913c3=\"\">The deactivated platforms were linked to more than 13,000 individual URLs.<\/li><li data-v-33a913c3=\"\">Recent reports showed that Singapore has recorded a 61% increase in cyber\u2011enabled fraud cases over two years.<\/li><\/ul><p data-v-b66433fc=\"\" data-v-f1ce2bb4=\"\">\u00a0<\/p><p data-v-75f3955d=\"\">Canadian securities regulators have dismantled more than 7,500 fraudulent investment and cryptocurrency websites as part of a coordinated national campaign to combat online financial crime.<\/p><p data-v-75f3955d=\"\">The Canadian Securities Administrators (CSA) said the enforcement action took place between June 5, 2025, and February 12, 2026, involving 7,586 deactivated scam platforms tied to more than 13,000 URLs.<\/p><h1 data-v-75f3955d=\"\">Coordinated Effort Against Online Fraud<\/h1><p data-v-75f3955d=\"\">The operation, announced during Fraud Prevention Month, reflects an expanded push to disrupt fraudulent activity targeting Canadian investors.<\/p><ul data-v-377eabaa=\"\" data-v-75f3955d=\"\"><li data-v-377eabaa=\"\"><a href=\"https:\/\/www.financemagnates.com\/fintech\/singapore-sees-cyber-scams-soar-61-as-global-taskforce-warns-of-widespread-crime\/\" data-v-377eabaa=\"\">Singapore Sees Cyber Scams Soar 61% as Global Taskforce Warns of Widespread Crime<\/a><\/li><li data-v-377eabaa=\"\"><a href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/how-107m-crypto-scheme-allegedly-hid-behind-college-fees-in-south-korea\/\" data-v-377eabaa=\"\">How $107M Crypto Scheme Allegedly Hid Behind College Fees in South Korea<\/a><\/li><li data-v-377eabaa=\"\"><a href=\"https:\/\/www.financemagnates.com\/forex\/australias-fraud-intel-network-exposes-60m-in-scams-as-account-takeovers-rise-47\/\" data-v-377eabaa=\"\">Australia\u2019s Fraud-Intel Network Exposes $60M in Scams as Account Takeovers Rise 47%<\/a><\/li><\/ul><p data-v-75f3955d=\"\">Last year, Canada\u2019s national police\u00a0<a href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/canadian-law-enforcers-recover-56m-in-nations-largest-crypto-seizure\/\" data-v-75f3955d=\"\">closed unregistered platform TradeOgre and recovered more than CAD 56 million<\/a>\u00a0in digital assets, in what it was described as the largest crypto seizure in Canadian history.<\/p><p data-v-75f3955d=\"\">The Eastern Region\u2019s Money Laundering Investigative Team began investigating the\u00a0<span data-ref=\"term-wrapper\" data-v-26a4c466=\"\" data-v-75f3955d=\"\"><a href=\"https:\/\/www.financemagnates.com\/terms\/e\/exchange\/\" data-v-26a4c466=\"\">exchange<\/a><\/span>\u00a0in June 2024 after a Europol tip and later found that TradeOgre was not registered with FINTRAC and did not verify client identities.<\/p><p data-v-75f3955d=\"\">\u201cOnline investment scams continue to pose a serious risk to Canadians, and we are using a full range of regulatory and enforcement tools, including advanced technological capabilities, to proactively identify and disrupt fraudulent websites,\u201d said Stan Magidson, Chair of the CSA and CEO of the Alberta Securities Commission.<\/p><p data-v-75f3955d=\"\"><b><strong data-v-75f3955d=\"\">You may also like:\u00a0<a href=\"https:\/\/www.financemagnates.com\/forex\/australias-fraud-intel-network-exposes-60m-in-scams-as-account-takeovers-rise-47\/\" data-v-75f3955d=\"\">Australia\u2019s Fraud-Intel Network Exposes $60M in Scams as Account Takeovers Rise 47%<\/a><\/strong><\/b><\/p><p data-v-75f3955d=\"\">The CSA said its members have strengthened cooperation with law enforcement and industry partners to identify scams faster and prevent investor losses. The regulator urged the public to check the registration of investment advisors and platforms using the CSA\u2019s National Registration Search tool before investing.<\/p><h2 data-v-75f3955d=\"\">Ongoing Investor Protection<\/h2><p data-v-75f3955d=\"\">Statistics on deactivated websites will be included in the CSA\u2019s Year in Review report starting in 2026. Investors who suspect fraud are encouraged to contact their local securities regulator.<\/p><p data-v-75f3955d=\"\">Miles away from individual enforcement actions,\u00a0<a href=\"https:\/\/www.financemagnates.com\/fintech\/singapore-sees-cyber-scams-soar-61-as-global-taskforce-warns-of-widespread-crime\/\" data-v-75f3955d=\"\">Singapore is the worst hit by cyber\u2011enabled fraud<\/a>, with scam cases jumping 61% over two years, according to recent findings by the Financial Action Task Force.<\/p><p data-v-75f3955d=\"\">The global watchdog now treats cyber\u2011enabled fraud as one of the most widespread profit\u2011driven crimes worldwide and a core driver of money laundering, terrorist financing and proliferation financing risks, as rapid digitalization, new payment rails and virtual assets enable criminals to move illicit funds across borders at scale.<\/p><p data-v-75f3955d=\"\">FATF notes that 156 jurisdictions, or roughly 90% of those it assessed, now classify fraud as a major\u00a0<span data-ref=\"term-wrapper\" data-v-26a4c466=\"\" data-v-75f3955d=\"\"><a href=\"https:\/\/www.financemagnates.com\/terms\/m\/money-laundering\/\" data-v-26a4c466=\"\">money laundering<\/a><a href=\"https:\/\/www.financemagnates.com\/terms\/m\/money-laundering\/\" data-v-26a4c466=\"\"><b>Money Laundering<\/b>Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derive\u2026Read this Term<\/a><\/span>\u00a0threat. National data underscores how quickly the threat has escalated: alongside Singapore\u2019s spike, fraud now accounts for more than 40% of all recorded crime in the United Kingdom.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The deactivated platforms were linked to more than 13,000 individual URLs. Recent reports showed that Singapore has recorded a 61% increase in cyber\u2011enabled fraud cases over two years. \u00a0 Canadian securities regulators have dismantled more than 7,500 fraudulent investment and cryptocurrency websites as part of a coordinated national campaign to combat online financial crime. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_angie_page":false,"_eb_attr":"","page_builder":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-520","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/refundauthority.com\/index.php?rest_route=\/wp\/v2\/posts\/520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/refundauthority.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/refundauthority.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/refundauthority.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/refundauthority.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=520"}],"version-history":[{"count":4,"href":"https:\/\/refundauthority.com\/index.php?rest_route=\/wp\/v2\/posts\/520\/revisions"}],"predecessor-version":[{"id":524,"href":"https:\/\/refundauthority.com\/index.php?rest_route=\/wp\/v2\/posts\/520\/revisions\/524"}],"wp:attachment":[{"href":"https:\/\/refundauthority.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/refundauthority.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/refundauthority.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}