CIRO (Canadian Investment Regulatory Organization) issued an investor alert on September 23, 2026, warning of fraudsters impersonating Research Capital Corporation, a legitimate CIRO-regulated firm. The scammers use the company’s name, address, registration details, and employee identities to deceive investors, falsely claiming to help recover funds lost to cyber events or cryptocurrency scams.
- Alert Date: September 23, 2026
- Impersonated Firm: Research Capital Corporation
- Fraudulent Tactics: Requesting downloads of applications and sensitive banking information
Fraudsters contact victims with offers to recover lost funds, claiming affiliation with CIRO. However, legitimate CIRO-regulated firms and CIRO itself do not initiate unsolicited contact to offer fund recovery services, nor do they request victims download applications or disclose banking credentials to return recovered assets.
Investors can verify the legitimacy of anyone claiming to represent CIRO or a regulated firm by contacting CIRO‘s Complaints & Inquiries team at 1-877-442-4322 (Canada/US) or 800-555-2323 (outside Canada/US). All registered financial advisors in Canada are listed on the National Registration Search maintained by the Canadian Securities Administrators (CSA). Victims of this or similar schemes should immediately contact their bank, local police, their provincial securities commission, the Canadian Anti-Fraud Centre, and CIRO if CIRO regulation is claimed.
CIRO is the pan-Canadian self-regulatory organization overseeing all investment dealers, mutual fund dealers, and trading activity on Canada’s debt and equity marketplaces.
