Two fraudulent companies are purportedly conducting a mystery shopper scam, conning consumers into giving up their money using documents deceitfully bearing the Insurance Institute of Canada's name and logo.
The Financial Services Commission of Ontario (FSCO) issued a warning Friday, advising consumers to be careful of suspicious emails coming from the companies My Shop Ltd. and Mystery Global Survey Group.
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Both companies have sent letters and cheques that bear the Insurance Institute of Canada's name and logo to a number of individuals, saying that the organizations need payment to let the consumer into a mystery shopper assignment. The companies con individuals by asking them to deposit a cheque, which the companies then keep a portion of in their accounts as payment. The next part of the con involves asking the individuals to wire a sum of money to another person’s account. The FSCO has warned that cheques submitted this way will not clear and the individuals will not be able to recover the sum transferred.
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The FSCO warned that the cheques used in these transactions are fraudulent and not authorized by the Insurance Institute of Canada. The commission also confirmed that neither company is affiliated with the institute in any way.
The commission encouraged consumers contacted by either company not to deposit the cheque or to contact the companies, but instead turn over any copies received as evidence to the Canadian Anti-Fraud Center.
Warnings have been issued on the FSCO and Insurance Institute of Canada’s websites. The former has also posted similar warning notices in the past, detailing other insurers that have been targeted by such schemes.
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