The Financial Services Regulatory Authority of Ontario (FSRA) has issued a warning for the public, cautioning them about offers for employment that are linked to the purchase of life insurance policies.
The regulator warned that some insurance agents have been offering false job opportunities to international students and newcomers to Canada – as long as they first purchase life insurance. These unscrupulous agents attempt to reach out to these newcomers online, or through social channels, FSRA added.
FSRA offered the following reminders to those who encounter this issue:
The regulator said that it will “take action to enforce the applicable laws and regulations.”
